Jensen Huang’s net worth drops $10 billion as Nvidia stock slides in the fallout of affair scandals with company exec and alleged spy
Further investigations and lawsuits could continue to impact Nvidia’s stock and Huang’s net worth Investors and the public alike are reeling from the most recent investigations into Huang’s alleged affair scandals.
Key points
- Jensen Huang, who has come under fire for admitting to an affair with a woman accused of being a Chinese intelligence agent, has been accused of having a separate affair with an Nvidia subordinate.
- And just yesterday, Rosen Law firm filed a class-action lawsuit in federal court alleging that the company and its CEO failed to disclose information about Huang’s connections to the alleged Chinese spy accused of passing information to Beijing.
- By extension, Huang’s net worth also dipped, compounding upon pre-existing problems, as he briefly dropped out of the top 10 last week after a broad tech stock sell-off following the Democrats’ midterm victories.
The entrepreneur’s net worth now sits at $145 billion, around $9.9 billion lower than his fortune before Sunday’s revelations; Nvidia shared dropped more than 7% in pre-market trading today, adding to a wipeout expected to lower the company’s market cap by $1 trillion in November alone.
Additional details
- On Sunday, Nvidia’s board launched an independent investigation into the reports that Huang had been “the target of a foreign intelligence effort,” and the CEO sent an email to staffers apologizing for the extramarital affair.
- Last month, the New York Times reported that the CEO had formed a relationship with Alice Huang, a Chinese executive at Singapore-based data center company Megaspeed, which buys Nvidia’s AI chips.
- The relationship was even talked about internally, the company insiders alleged; and the next morning, Nvidia’s stock took another hit.
- And things only got worse when New York Times reporting broke soon thereafter alleging that Huang had a second affair with Nvidia’s vice president of healthcare Kimberly Powell.
How this summary was made: extractive summary — built from the sources' own reporting. It is drawn only from the reporting of the sources listed below — read the originals for full detail. How we summarize →
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