The manufacturer of AI systems remains in the spotlight – Nvidia (NVDA) and its president Jensen Huangbut many of his fellow billionaires have also seen their net worth increase. Technology companies they are consistently on a good streak, writes Quartz. Here are four billionaires who became even richer thanks to AI this year.
Jensen Huang – Nvidia
Founder and CEO NvidiaJensen Huang, saw a significant increase in net worth due to demand for the chips the company produces. Huang’s net worth increased by $63.5 billion this year to $107 billion, according to the Bloomberg Billionaires Index. The majority of Huang’s net worth comes from his 3.5% stake in Nvidia. Since Nvidia’s shares hit record highs in June, the chipmaker’s stock has experienced some turbulence. However, the company’s stock is up about 158% this year, and Nvidia’s stock is up more than 180% year over year.
In June, Nvidia briefly overtook Apple in total market capitalization and crossed the $3 trillion mark for the first time. A few weeks later, Nvidia pulled ahead Apple and Microsoftbecoming the most valuable public company in the world. Despite falling to third place, Nvidia remains the most valuable semiconductor company in the world. In February, it became the first semiconductor company to reach a $2 trillion valuation after reporting record fourth-quarter earnings.
Michael Dell – Dell Technologies
Founder and CEO Dell Technologies (DELL), Michael Dellsaw its net worth increase by $31.6 billion this year, according to the Bloomberg Billionaires Index. Most of Dell’s $110 billion net worth comes from his stake in the computer company, which he half-owns, according to Bloomberg.
The company’s shares are up about 58.4% this year. In March, Dell beat analysts’ expectations. Jeff Clarke, Dell’s vice president and chief operating officer, said the company is just at the beginning of its AI journey and believes it is “uniquely positioned with our broad portfolio to help customers build GenAI solutions that meet performance requirements, costs and safety.
“Demand for AI-optimized servers was $3.2 billion, up 23% and $5.8 billion year-to-date,” Clarke said of the second quarter. According to the Forbes Billionaires List, Dell’s real-time net worth was $104.9 billion as of Friday afternoon.
Mark Zuckerberg – Meta
Founder Meta (FINISH) Mark Zuckerberg saw his net worth increase by $78.1 billion this year, according to the Bloomberg Billionaires Index. On Friday, Zuckerberg overtook the founder Jeff Bezos’ Amazonbecoming the second richest person in the world.
Zuckerberg’s net worth has reached $206 billion — $1 billion more than Bezos’ $205 billion. According to the Forbes Billionaires List, Zuckerberg is the third richest person in the world, with a real-time net worth of $204.3 billion as of Friday afternoon. Meta shares are up about 69.5% this year. The company’s shares rose 5% in July after reporting second-quarter financial results that topped expectations.
“We had a strong quarter, and Meta AI is on track to become the most widely used AI assistant in the world by the end of the year,” Zuckerberg said. “We launched the first pioneer-grade open-source AI model, continue to see good traction with our Ray-Ban Meta AI glasses, and see good growth in our applications.”
Larry Ellison – Oracle
In September, the co-founder’s net worth Oracle (ORCL) Larry Ellison surpassed the net worth of Amazon founder Jeff Bezos – making Ellison the second richest person in the world. According to the Forbes Billionaires List, Ellison’s real-time net worth was $206.8 billion as of Friday afternoon. Oracle’s executive chairman is the fifth-richest person in the world, according to the Bloomberg Billionaires Index.
Oracle shares are up about 62.7% this year thanks to Cloud Services. According to Forbes, Ellison owns just under 40% of Oracle stock. The company’s total quarterly revenue in dollars increased 7% compared to the prior year.