Nvidia's stock plunge on Tuesday led to a staggering $9.9 billion drop in CEO Jensen Huang's net worth, forcing him out of the centibillionaire ranks. With his fortune now at $94.9 billion, Huang's decline reflects a historic one-day market loss of $279 billion for Nvidia, amidst a broader rout in semiconductor stocks. Despite this setback, he has experienced a $51 billion increase in wealth this year thanks to a 118% rise in Nvidia's stock since January.
Huang's fall from grace not only puts him behind other billionaires like Indian industrialist Gautam Adani and Walmart heirs but also signifies a larger issue within the tech industry. Nvidia's significant market drop was exacerbated by reports of the company facing antitrust scrutiny from the Department of Justice. This reignites concerns about regulatory pressures impacting tech giants, highlighting the volatility and uncertainty in the technology sector driven by rapid growth and increasing government oversight.
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