It looks like NVIDIA’s president and CEO can afford even more meals from Denny’s now.
Per a report from Business Insider, Jensen Huang, who came up with the idea of a graphics chip at one of the restaurant chain’s California locations 30 years ago, is now richer than ever, having seen his net worth grow from an already-comfortable $13.8 billion to an astounding $43.5 billion.
The number can be found on the Bloomberg Billionaires Index, which gave the following overview for Huang, aged 60:
Huang is the president and chief executive of Nvidia, a maker of computer processors used in gaming, data centers and driverless cars. The Santa Clara, California-based business had revenue of $27 billion in the year to Jan. 30, 2023. Huang co-founded the company in 1993 and introduced the first graphics processing unit in 1999.
Jensen’s new level of wealth, which would make him richer than Nike founder Phil Knight, is largely owed to the AI craze, something that NVIDIA has found itself at the center at thanks to its cloud and data center GPUs, including the recently launched HGX H200 system.
Here’s what’s been said about NVIDIA’s stock performance:
Shares have climbed nearly 250% this year, with investors flocking to the stock based on its dominance of the market for graphics processing units (GPUs) that power AI products like ChatGPT.
Nvidia’s massive gains have made it the best performing S&P 500 stock of 2023, comfortably outperforming fellow mega-caps Meta Platforms and Tesla despite those two companies having strong years of their own.
Huang is currently the 25th richest person in the world, according to Bloomberg’s ranking of the world’s wealthiest people at the time of this writing.
Elon Musk, the guy who renamed Twitter, remains in first place with $220 billion.