Nvidia’s Huang Loses $10 Billion in His Biggest Wealth Wipeout

Nvidia Corp. Chief Executive Officer Jensen Huang’s wealth tumbled the most ever after a rout in chip stocks and a report that the US Justice Department sent the tech firm subpoenas as part of an escalating antitrust probe. 

Huang’s net worth slumped about $10 billion to $94.9 billion on Tuesday 

Bloomberg Billionaires Index began tracking his wealth in 2016. 

The decline was triggered by a 9.5% fall in NVIDIA's share value. 

The US Justice Department has intensified its antitrust investigation into NVIDIA, issuing subpoenas as part of the process. 

Despite Tuesday's significant loss, Huang remains the world's 18th richest person. His wealth has increased by $51 billion year-to-date, according to the Bloomberg Billionaires Index. 

On Tuesday, NVIDIA's shares dropped 9.5% to $108 each, resulting in a $279 billion loss in market capitalization. 

This marks the largest single-day decline in market value for a US company ever recorded. 

NVIDIA's record one-session loss in market capitalization surpassed the $232 billion decline experienced by Meta Platforms on February 3, 2022.