The soaring price of NVIDIA Corporation NVDA stock over the last year has added to the wealth of CEO and co-founder Jensen Huang, making him one of the world's richest people.
While Huang is humble about his growing wealth, here's a look at how close the Nvidia CEO is to cracking the top 10 list.
What Happened: In a recent interview, Huang said he doesn't look at the daily price of Nvidia stock and the price doesn't impact how good or bad he feels.
"Not every day, sometimes I'll look at the end of the day," Huang recently said.
Since he doesn't look at the stock price every day, Huang also probably doesn't keep an eye on the Bloomberg Billionaire's Index, which ranks the richest people in the world.
Huang has rapidly risen up the ranks, growing his wealth from $32 billion at the beginning of 2023 to $121 billion, now holding the 11th spot on the list.
While catching up to Elon Musk ($241 billion) might take years—or a significant decline in Tesla and SpaceX's value—Huang could break into the top 10 soon.
Huang trails Google co-founder Sergey Brin, who ranks 10th at $141 billion, by $20 billion.
Owning about 3.5% of Nvidia, which is his primary source of wealth, Huang would need Nvidia to gain $571.4 billion in market capitalization to surpass Brin.
Adding that much to the market capitalization would make Nvidia the most valuable company in the world once again with a value of $3.788 trillion, ranking ahead of Apple's $3.550 trillion.
This, of course, assumes Apple and Brin's wealth will stay the same in value.
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Why It's Important: While adding $571 billion to a market capitalization would be no small feat, Nvidia has shown impressive valuation metrics in recent years.
Nvidia became a $1 trillion company in May 2023 based on market capitalization, joining a limited number of public companies to hit the milestone.
It took the company less than nine months to reach a $2 trillion market capitalization after passing the $1 trillion milestone. Nvidia took even less time to go from $2 trillion to $3 trillion, hitting the milestone in 96 days and setting a new record for the short time between the two milestones.
Nvidia briefly became the world’s most valuable public company earlier this year, passing Apple and Microsoft. With a current market capitalization of $3.308 trillion, Nvidia narrowly trails first-place Apple ($3.466 trillion).
Huang has added $76.6 billion to his wealth in 2024 year-to-date, trailing only Meta Platforms CEO Mark Zuckerberg‘s $80.8 billion gain, who ranks third on the list.
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