- Nvidia's soaring stock price has increased co-founder and CEO Jensen Huang's net worth.
- Hwang's fortune now stands at nearly $70 billion, putting him on the verge of joining the world's top 20 billionaires.
- Nvidia's stock price has soared thanks to a boom in artificial intelligence and impressive corporate profits.
Nvidia is doing great.
The Santa Clara-based chipmaker's stock has soared on the back of the artificial intelligence (AI) boom.
Since the start of 2022, NVIDIA's stock price has increased fivefold, and co-founder and CEO Jensen Huang's fortune has skyrocketed.
Huang, 61, who currently owns 3.5% of Nvidia shares worth about $70 billion, is on the verge of joining the world's top 20 billionaires on the Bloomberg Billionaires Index.
As of Friday, Mr. Hwang was worth $69.2 billion, making him the 21st richest person in the world, according to Bloomberg.
Hwang's net worth soared nearly 22% in just one day on Thursday, after Nvidia's stock price rose 16% on the same day thanks to blockbuster fourth-quarter results that beat Wall Street expectations.
Overall, Hwang's wealth has ballooned by about 57% in less than two months through 2024.
Mr. Huang is now just behind Julia Flesher Koch (the widow of David Koch, co-owner of the US conglomerate Koch Industries) and her family, who are worth $69.3 billion, according to Bloomberg.
It may not be long before Mr. Huang joins the ranks of the world's top 20 billionaires.
Nvidia stock rose further in after-hours trading Thursday, rising 1.7% to $798.95 per share.