24/7 Wall St. Insights
- Nvidia Corp. (NASDAQ: NVDA) CEO Jensen Huang’s net worth reportedly reached $128 billion.
- That makes him the 11th wealthiest person in the world.
- Also: 2 Dividend Legends to Hold Forever.
According to Bloomberg, Nvidia Corp. (NASDAQ: NVDA) CEO Jensen Huang’s net worth recently reached $128 billion, virtually all due to his ownership of the artificial intelligence (AI) industry leader. Nvidia’s market cap recently hit $3.6 trillion, making it the most valuable company in the world. Huang is the 11th wealthiest person in the world, just behind former Microsoft Corp. (NASDAQ: MSFT) CEO Steve Ballmer and Warren Buffett.
Nvidia’s share price has risen 800% in the past two years. The S&P 500 is up 27% during the same period. Other major tech stocks have not risen nearly as much over that period. Microsoft’s shares are up 66%, while Amazon.com Inc. (NASDAQ: AMZN) stock is 112% higher.
Nvidia’s most recent earnings are part of a string of spectacular revenue and earnings growth. In the most recent quarter, revenue rose 94% year over year to $35.1 billion. Per-share earnings were up 111% on the same basis to $0.78. Huang commented, “The age of AI is in full steam, propelling a global shift to NVIDIA computing.”
How much can Nvidia grow? It dominates the AI chip market. According to PwC, “AI could contribute up to $15.7 trillion to the global economy in 2030, more than the current output of China and India combined.” If so, Huang’s wealth will continue to rise.
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