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Nvidia chief loses $47bn
Jensen Huang, Nvidia’s CEO and co-founder, has lost about $47 billion of his fortune since October 29, bringing it down to roughly $130 billion and dropping him to 17th place among the world’s richest people, according to the Bloomberg Billionaires Index. The decline came after his resignation amid reports of a relationship with a Chinese businesswoman suspected of having ties to Chinese intelligence, as well as U.S. investigations into the possible transfer of advanced chips to China. China denied the espionage allegations, while Nvidia said it did not believe its secrets or national security had been compromised. The company’s shares fell as much as 14% during trading before paring their losses to 5.3%, and CFO Colette Kress took over as interim CEO.
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