Nvidia CEO Jensen Huang drops out of top 10 richest after US election losses
Nvidia CEO Jensen Huang's fortune fell by $15.1 billion following a drop in company shares after the Democratic Party's victory in US elections, dropping him from 9th to 13th place in the Bloomberg Billionaires Index. The stock decline was driven by expectations that Democrats may block data center construction, potentially hindering artificial intelligence infrastructure development. Huang's net worth now stands at $150.9 billion, with Nvidia shares falling 9.3%, the sharpest drop since January 2025. Other tech leaders also suffered losses, including Elon Musk losing $79.7 billion and Larry Ellison losing $10.1 billion. The combined wealth of 500 people on the Bloomberg index decreased by $185 billion. The midterm elections on November 3 gave Democrats control of both congressional chambers, potentially limiting President Donald Trump's initiatives.