Jensen Huang drops to 12th on Bloomberg Billionaires Index as Nvidia stock slides

Nvidia CEO Jensen Huang fell to 12th on Bloomberg's Billionaires Index Monday after his net worth dropped $6.5 billion to $148 billion, ending his status as one of the world's 10 wealthiest people. The decline followed a 4.3% drop in Nvidia's stock to $178.67, triggered by a board investigation into whether Huang was targeted by a "foreign intelligence effort" and his apology for being "unfaithful" to his wife. Huang owns over 870 million shares, tying his wealth to the stock, which has fallen 21% over the past month amid a tech sell-off. The sell-off stems from investor concerns about AI infrastructure development, sparked by neocloud companies' debt levels and recent Democratic election wins opposing data center construction. Huang was ranked 7th in October with a net worth roughly $60 billion higher.