Nvidia CEO Jensen Huang falls out of world's 10 richest people
Jensen Huang's net worth dropped to $148 billion following a decline in shares and scrutiny over an alleged intelligence targetting effort.
Nvidia Chief Executive Officer (CEO) Jensen Huang has dropped out of the top 10 richest people globally as his fortune fell to $148 billion, according to the Bloomberg Billionaires Index on November 10. Moneycontrol reported that Huang is now ranked 12th, trailing Walmart heirs Jim Walton and Rob Walton.
The decline in his wealth follows a 4.2 per cent drop of $6.47 billion in the latest update. His net worth has decreased by $15 billion, or 9.2 per cent, over the last year. This comes as Huang faces scrutiny after admitting to a relationship with a former Megaspeed executive, Alice Huang, whom US intelligence suspected of collecting information for China.
US President Donald Trump defended the executive, calling him an "honourable guy" and expressing confidence in his leadership. Trump told reporters he had not spoken to Huang directly but believed the CEO had provided immense value to the United States.
The Nvidia Board of Directors has launched an independent investigation into reports that Huang was the target of a foreign intelligence operation. A committee of independent directors, supported by external legal counsel, will lead the probe.
Nvidia stated that while the inquiry will examine all available information, there is no reason to believe that national security or company trade secrets were compromised. The company added that Huang supports the review and has committed to cooperating fully with the investigation.
