Jensen Huang Out of the World’s 10 Richest People as AI Selloff Hits Wall Street
One brutal session erased roughly $450 billion from NVIDIA and knocked its CEO down the wealth rankings. Wall Street is pricing in an AI slowdown that no reported number confirms, and a single earnings date could prove the panic right…
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Jensen Huang lost $15.1 billion on paper on November 5, 2026, and the drop pushed him from ninth to 13th on the Bloomberg Billionaires Index. It was his biggest one-day dollar loss since January 27, 2025, and it left his fortune at $150.9 billion.
The loss came from his company’s stock. NVIDIA (NASDAQ:NVDA | NVDA Price Prediction) fell $18.53, or 9.26%, to close at $181.60, its biggest one-day drop since January 2025. About $450 billion of market value disappeared, leaving the company worth $4.39 trillion.
The selloff followed the Democratic sweep of the November 3 midterm elections. Investors pointed to fears that costlier borrowing and possible delays in data center construction could slow AI spending. Nothing in NVIDIA’s reported results shows that slowdown yet. Shareholders will test that gap between fear and reported results in the coming weeks.
Why Huang’s Ranking Moves With NVIDIA Shares
Most of Huang’s fortune is his roughly 3.4% NVIDIA stake, held in his own name and in family trusts according to a September 2026 filing. His ranking is effectively a live gauge of NVIDIA’s market value, which is why his 9.1% wealth decline tracked the stock’s fall.
The three Walton siblings now sit directly above him, led by Jim Walton in 10th at $155 billion, about $4 billion ahead. A competing real-time list still had Huang ninth late on November 5. The 500 richest people lost a combined $185 billion, the 14th-largest one-day drop since the index began in 2012.
Data Center Spending Fears Hit Chip Stocks
The PHLX Semiconductor Index fell 12.25%, while the S&P 500 lost 4.4% in its worst day since April 2025 and the Nasdaq Composite dropped 5.5%. The political risk centers on data centers. Management said in August that capital spending by the top five hyperscalers would reach nearly $800 billion in 2026 and $1.3 trillion in 2027, and slower permitting or pricier financing could push some of those orders out.
NVIDIA carries $279.00 billion in supply obligations and guarantees capped at $108.5 billion for AI cloud partners, and customers now take an average of 60 days to pay. Huang has defended those deals, saying “our risk is limited.”
What $181.60 Already Prices In
The stock is down 24.09% over one month and 2.4% for 2026, so it sits below where it began the year. That leaves a trailing P/E of 37 on a company whose revenue rose 105.8% in the last reported quarter.
NVIDIA has beaten EPS and revenue estimates for six straight quarters and guided fiscal third-quarter revenue to $108.0 billion, plus or minus 2%, excluding China data center sales. Buyers returned in after-hours trading, pushing the stock to $183.88, up 1.26%, but the move reveals nothing about orders.
What NVIDIA Needs to Show in Its Next Earnings Report
The bullish case for NVIDIA at $181.60 depends on reported results. The market is pricing in a spending slowdown that hasn’t appeared in any reported figures, and management says supply limits growth more than demand does. The risk is concrete, since a construction pause would hit guarantees and supply commitments together.
The key test comes with the earnings report expected Tuesday, November 17, after the close, though NVIDIA has not confirmed the date. It needs revenue near the $108.0 billion guide and a reaffirmed outlook: “We expect to grow revenue by approximately 70% in fiscal 2028.” A guidance cut or a close below the 52-week low of $164.27 would weaken the bullish case.
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Omor Ibne Ehsan is a writer at 24/7 Wall St. He is a self-taught investor with a focus on growth, cyclical, and dividend equities that have strong fundamentals, value, and long-term potential. He also has an interest in high-risk, high-reward investments such as penny stocks.
