Troubles continue to mount for Nvidia CEO Jensen Huang, who is facing allegations of being involved with a suspected Chinese spy. Since the news broke, Nvidia shares have taken a plunge, down nearly 14% in the last five trading sessions. As a result, Huang’s net worth has also taken a hit while he is being accused of defrauding shareholders.
\n\nAccording to Forbes, Huang’s net worth has taken a hit of nearly $7 billion in a single day. As of November 11, his net worth remains at $155 billion, down $6.8 billion following the massive selloff in Nvidia shares. This 4.19% slide in his net worth caused him to drop two spots to the 10th richest person in the world, slipping below Warren Buffett and Larry Ellison.
\n\nThe company’s market capitalisation, which stood at $4.5 trillion at Friday’s close, fell to $4.24 trillion by Monday afternoon. Huang also briefly lost his status as one of the world’s top ten richest people when the stock opened down over 7%, causing him to lose $10.3 billion.
\n\nNvidia's shares fell after reports emerged about an alleged relationship involving Huang and a suspected Chinese intelligence asset. Huang has also admitted to being unfaithful to his…
Original source: https://www.cnbctv18.com/technology/
