Nvidia CEO Jensen Huang drops from world's top 10 richest after chips sell-off
Nvidia CEO Jensen Huang and other tech billionaires saw significant net worth declines following a market sell-off triggered by US election results. Investors are concerned that a Democrat-controlled government may restrict data center construction.
Why it matters
The market reaction underscores the sensitivity of AI-related stocks to political shifts and regulatory expectations regarding infrastructure.
Other big losers included SpaceX’s Elon Musk and Oracle co-founder Larry Ellison
JENSEN Huang got an expensive taste of the US Democratic Party’s newfound political power on Thursday (Nov 5).
The Nvidia CEO’s net worth fell by US$15.1 billion to US$150.9 billion as stocks tumbled following Democrats’ sweeping victories in Wednesday’s elections . The loss dropped him to 13th on the Bloomberg Billionaires Index from ninth.
Other big losers were SpaceX’s Elon Musk and Oracle co-founder Larry Ellison, who lost US$79.7 billion and US$10.1 billion, respectively.
Expectations that a Democrat-controlled House and Senate will work to constrain construction of data centres – a critical component of AI infrastructure – helped drive shares of semiconductor makers and suppliers of computing power lower .
Nvidia tumbled 9.3 per cent, the most since January 2025, while SpaceX fell 9 per cent and Oracle dropped 6.9 per cent.
Headlinne story · 3 newsrooms
Stock Losses Hit Chip Executives After Democratic Election Victories
What every outlet reported, where they differ, and how each framed it →
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