Nvidia CEO Jensen Huang posts largest wealth loss globally after admitting to affair

Nvidia CEO Jensen Huang experienced the largest wealth loss globally, with his fortune plummeting by $6.8 billion. His net worth dropped to $155.4 billion, a 4% decrease, and his global ranking slipped from eighth to tenth place, according to Forbes' real-time data. Shares of Nvidia declined by 4.27% in response to Huang's email to employees, admitting to infidelity and accepting full responsibility for his actions.

A confidential U.S. report suggested Huang's alleged mistress, Alice Huang, was a Chinese spy, though the connection to her identity remains unclear. Huang's mistress reportedly worked as a television reporter in China before joining Megaspeed, a Singapore-based data center company and one of Nvidia's key customers in Southeast Asia.

In response to the scandal, Nvidia's board initiated an investigation into whether Huang had fallen victim to foreign intelligence efforts. Despite the setback, Nvidia remains the world's second-most valuable company, with a market capitalization down 7% this year, now at $4.3 trillion. Huang, married to Lori Mills since 1985 and having two children, Spencer and Madison, saw his wealth decline four times more than the second-largest loser, LVMH chairman Bernard Arnault, who shed $1.7 billion, now ranking 17th globally with $121.6 billion in net worth.

Other significant wealth losers included American medical doctor Patrick Soon-Shiong, Chinese e-commerce magnate Colin Huang, and Chinese battery tycoon Robin Zeng, all with losses under $1 billion. In contrast, billionaire Elon Musk emerged as the largest wealth gainer, adding $47.8 billion to his net worth, bringing his total to $897.5 billion.