Wallstreetcn
2024.02.23 00:17
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NVIDIA's soaring stock price has propelled Huang Renxun's wealth to 21st place globally.

Huang Renxun's net worth has surged to $69.2 billion, surpassing oil tycoon Charles Koch, ranking 21st in the Bloomberg Billionaires Index.

Crushing the performance of peers, not only has propelled NVIDIA's stock price to a historic high but also elevated its leader to new heights.

On Thursday local time, NVIDIA's CEO Jensen Huang's net worth surged by $9.6 billion to $69.2 billion, surpassing oil tycoon Charles Koch, ranking 21st in the Bloomberg Billionaires Index. At the beginning of last year, Huang's net worth was $13.5 billion, ranking 128th on the index.

On the same day in the U.S. stock market, NVIDIA opened with an over 11% increase, closing with a 16.4% surge to $785.4, setting a new all-time high and marking the largest daily gain since the quarterly report released on May 24, 2023.

Throughout the trading day, NVIDIA's market value increased by $277 billion, breaking the record for the highest single-day market value increase set by Meat earlier this month. By the closing bell, NVIDIA's market value was around $1.94 trillion, approaching the $2 trillion mark.

The financial report released on Wednesday local time showed that NVIDIA's fourth-quarter revenue skyrocketed by 265% YoY to $22.1 billion, surpassing analysts' expectations of $20.41 billion, with quarterly revenue even exceeding the full year of 2021. The largest revenue source, the data center segment, achieved $18.4 billion in revenue in the fourth quarter, a staggering 409% increase YoY.

NVIDIA's revenue and profit have set historical records for three consecutive quarters, with a 126% revenue growth for the full fiscal year 2024.

Furthermore, the sharp rise in NVIDIA's stock price has increased the wealth of the top 30 AI-related billionaires on the Bloomberg Billionaires Index by $42.8 billion. In percentage terms, CEO of AMD, Charles Liang, emerged as the biggest winner, with a wealth increase of 33%.