The final sale of 25,000 shares, reported Friday, capped a scheme Huang adopted in March to divest as many as 6 million shares by the end of the year. The stock was worth about $865 million when he started selling in late June, but has since risen more than 40% amid unquenchable demand for artificial intelligence processors.
The Santa Clara, California-based company on Wednesday became the first to reach a market value of $5 trillion after announcing a series of new partners, just four months after cracking the $4 trillion threshold. This year alone it has created three new billionaires, including board member Brooke Seawell, who joined them as shares soared in recent days.
Huang, 62, ranks ninth on the Bloomberg Billionaires Index with a fortune of $175.7 billion, up from $61.3 billion this year.
According to Bloomberg calculations, the CEO has sold more than $2.9 billion worth of Nvidia shares since 2001 and owns a 3.5% stake in the company. He has also donated more than $300 million worth of stock this year to his foundation and a donor-advised fund.
Nvidia did not respond to a request for comment.
Huang isn’t the only company insider riding the artificial intelligence wave to greater riches. Its third-quarter revenue was surpassed by Arista Networks Inc. CEO Jayshree Ullal, who sold $861 million in shares, trailing only the chairman of Amazon.com Inc. Jeff Bezos ranked as the top seller among company insiders. Insiders at CoreWeave Inc. sold more than $1 billion in the last quarter after the IPO.
Nvidia insider sellers, including Huang, sold nearly $1.5 billion worth of stock in the third quarter, according to data from Washington Service, which tracks such sales. In 2024, Nvidia insiders sold more than $2 billion, compared to $462 million in 2023.
While many companies have benefited from the AI gold rush, Nvidia stands alone in a virtually unprecedented feat of wealth creation with seven billionaires, including Huang, in its ranks.
According to Bloomberg’s wealth index, Chief Financial Officer Colette Kress and Jay Puri, who oversees sales and marketing as executive vice president of global field operations, have acquired ten-figure fortunes in recent months with a net worth of about $1.2 billion each.
Nvidia board member Tench Coxe recently joined the list of the world’s 500 richest people with a net worth of $7.5 billion. Fellow executive Mark Stevens ranks 247th with a fortune of $12.5 billion, made up of Nvidia stock and partial ownership of the Golden State Warriors. Harvey Jones, another director, has a $1.5 billion position.
Seawell is the latest addition to the club and, together with his heirs, has a net worth of $1.1 billion, he confirmed in an email. Unlike Coxe and Stevens, who took board seats as part of their venture firm investments, Seawell was an executive for NetDynamics when he was added to the board in 1997 and remains a venture partner at New Enterprise Associates.
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