Nvidia CEO Jensen Huang’s Net Worth Surges to $44B, Overtaking Warren Buffett and Bernard Arnault in 2023

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Jensen Huang, the Chief Executive Officer of Nvidia Corp (NVDA), has experienced a remarkable surge in his net worth in 2023, reaching an impressive $44 billion, positioning him among the top earners for the year.

Co-founder of Nvidia, Huang has seen his net worth increase by a substantial $30.2 billion since the beginning of the year. This surge has elevated him to the 29th position on the Bloomberg Billionaires Index as of December 29.

The primary driver behind this substantial increase in Huang’s fortune is the nearly 246% surge in Nvidia’s stock throughout the year. Closing at $495.22 on Friday, Nvidia’s shares have outperformed those of several prominent billionaires in terms of wealth accumulation in 2023, including Bernard Arnault, Warren Buffett, and Mukesh Ambani. The significant rise in Nvidia’s shares is linked to investor optimism about the company’s chips leading the AI revolution.

Huang holds a nearly 3.5% ownership stake in Nvidia, with his approximately 87 million shares now valued at about $43 billion.

The financial success of Nvidia is underscored by its third-quarter earnings, reporting $4.02 per share, surpassing the consensus estimate of $3.36 per share. The bottom line showed improvement compared to the year-ago quarter and the preceding quarter. Revenue witnessed a remarkable 206% year-over-year increase and a 34% sequential increase, reaching $18.12 billion, exceeding the Street forecast of $16.12 billion.

CEO Jensen Huang highlighted the company’s strong growth, emphasizing the transition from general-purpose to accelerated computing and generative AI in the industry. The company’s GPUs, CPUs, networking, AI foundry services, and NVIDIA AI Enterprise software are identified as significant growth engines.

Looking ahead to the fourth quarter, Nvidia anticipates revenue of $20 billion, plus or minus 2%. Huang’s financial success underscores the company’s pivotal role in the evolving landscape of technology and artificial intelligence.