“21 trillion won evaporates in two days after affair admission” ... Jensen Huang falls in ranking of the world’s richest

[Financial News] The fortune of Nvidia CEO Jensen Huang, who admitted to having an affair with a woman suspected of being linked to Chinese intelligence, fell by about 21.5 trillion won in just two days. As Nvidia shares plunged for consecutive days, his ranking among the world’s richest also fell from eighth to 12th.
Huang’s net worth was $146.8 billion, according to a tally by U.S. business magazine Forbes on the 10th (local time). He fell four places from eighth to 12th in the ranking of the world’s richest, dropping out of the top 10.
Huang’s fortune plunged because Nvidia shares fell sharply for two consecutive days. Forbes said his net worth declined by $7.4 billion on the 9th alone, then fell by another $8.6 billion the following day, the 10th. The total value of the assets lost over the two days was $16 billion (about 21.5 trillion won).
As the value of his assets fell, Huang ranked below not only Warren Buffett, chairman emeritus of Berkshire Hathaway, and Oracle Chairman Larry Ellison, but also Amancio Ortega, founder of Spanish fashion company Inditex, and Rob Walton of the family that founded Walmart.
Earlier, Huang acknowledged that he had an extramarital relationship with businesswoman Alice Huang, whose alleged links to Chinese intelligence had come to light. In a message to Nvidia employees, he said, “I was unfaithful to my wife,” and conveyed that he would take responsibility for his actions and apologize to his family.
Nvidia’s board launched an independent investigation to examine whether Huang may have been targeted by a foreign intelligence agency. It said, however, that no evidence had been found to date that information related to national security or company secrets had been leaked outside the company.
Huang and his family trust hold about 870 million Nvidia shares. Because Nvidia shares make up a large portion of his total wealth, a fall in the share price can greatly reduce the assessed value of his net worth.
Meanwhile, Nvidia shares fell more than 6% intraday on the 10th before closing down 5.47% from the previous trading day. They had also dropped 4.27% on the 9th, and the sharp declines over two consecutive days significantly reduced the assessed value of Huang’s personal assets.


[email protected] Han Seung-gon Reporter