Nvidia CEO and co-founder Jensen Huang’s fortune shrank by nearly $10 billion after the chipmaker’s share price fell amid a wider selloff of major tech stocks on Tuesday.
According to our estimates, Huang’s net worth was $94.6 billion as of early Wednesday, after falling by $9.8 billion on Tuesday.
The nearly $10 billion wipeout dropped the Nvidia CEO from 14th to 16th place on Forbes’ Real-Time Billionaires list, below Michael Dell, the founder and CEO of computer maker Dell, and Walmart heir Jim Walton.
On Tuesday, Nvidia’s share price fell by 9.5% ending the day at $108—as the company’s market cap was routed by a record $279 billion.
Nvidia’s stock fell a further 2.4% in after-hours trading following a Bloomberg report that the company had been subpoenaed by the DOJ as part of an antitrust probe.
In early trading on Wednesday, the stock was down to $105.80 almost 2% below Tuesday’s closing price.
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