New Delhi, 10 November (H.S.): NVIDIA CEO Jensen Huang has slipped one position to 10th place on the Forbes list of the world's richest people, amid mounting attention surrounding reports of his alleged personal relationship with a Chinese businesswoman and allegations of a foreign intelligence operation.
According to Forbes' Real-Time Billionaires List, Huang's net worth declined to $155.4 billion on November 9, marking a fall of $6.8 billion. In Indian currency, the decline amounts to approximately Rs 63,000 crore, bringing his estimated wealth to around Rs 14.32 lakh crore.
The decline pushed Huang from eighth to 10th position among the world's wealthiest individuals. Oracle co-founder Larry Ellison and investor Warren Buffett moved ahead of him in the rankings.
Huang's wealth had also witnessed a substantial decline on November 6. The latest fall has largely coincided with selling pressure in NVIDIA shares, which closed at $178.67 on November 9, down $7.97 or 4.27 per cent. During the trading session, the stock had fallen by more than 8 per cent, approaching the $170 level, before recovering some of its losses.
Huang has also come under intense scrutiny following reports concerning his alleged relationship with Singapore-based businesswoman Alice Huang and claims of a possible Chinese intelligence connection. Reports have raised questions about whether the NVIDIA chief was targeted as part of a foreign intelligence operation. The company's board has initiated an independent investigation into the allegations.
The controversy has added to the pressure surrounding NVIDIA shares. However, the decline in Huang's wealth is directly linked to the fall in the company's stock price, given his substantial ownership stake in the chipmaker.
According to Forbes' Real-Time Billionaires List, Elon Musk remains the world's richest person, followed by Jeff Bezos and Larry Page. Other technology industry leaders, including Mark Zuckerberg, Sergey Brin and Michael Dell, are also among the world's 10 wealthiest individuals.
It is noteworthy that a substantial portion of Jensen Huang's personal fortune is tied to his stake in NVIDIA. He owns more than 3.5 per cent of the company's shares, making him its largest individual shareholder.
Hindusthan Samachar / Jun Sarkar
