Nvidia CEO Jensen Huang drops from world's top 10 richest after chips sell-off

Nvidia CEO Jensen Huang drops from world’s top 10 richest after chips sell-off Other big losers included SpaceX’s Elon Musk and Oracle co-founder Larry Ellison Summarise Share Add to Preferred Sources Add to Preferred Sources Published Fri, Nov 6, 2026 · 12:42 PM Nvidia CEO Jensen Huang’s net worth fell by US$15.1 billion to US$150.9 billion. PHOTO: REUTERS JENSEN Huang got an expensive taste of the US Democratic Party’s newfound political power on Thursday (Nov 5). The Nvidia CEO’s net worth fell by US$15.1 billion to US$150.9 billion as stocks tumbled following Democrats’ sweeping victories in Wednesday’s elections . The loss dropped him to 13th on the Bloomberg Billionaires Index from ninth. Other big losers were SpaceX’s Elon Musk and Oracle co-founder Larry Ellison, who lost US$79.7 billion and US$10.1 billion, respectively. Expectations that a Democrat-controlled House and Senate will work to constrain construction of data centres – a critical component of AI infrastructure – helped drive shares of semiconductor makers and suppliers of computing power lower . Nvidia tumbled 9.3 per cent, the most since January 2025, while SpaceX fell 9 per cent and Oracle dropped 6.9 per cent. All three men, especially Huang, are heavily exposed to the buildout of data centres to support the growing demands of artificial intelligence. Santa Clara, California-based Nvidia is the leading supplier of high-performance computer chips. SEE ALSO Apple overtakes Nvidia to become world’s most valuable company Nvidia CEO Jensen Huang says ties to Singapore firm under spying probe were ‘normal’ Nvidia chips pile up in Hong Kong as China withholds import approval Investors wipe US$2.5 trillion off Nasdaq as blue tsunami prompts AI fears More THE BUSINESS TIMES INSIGHTS Powering Asean's Future 2026 Find out how enterprises are navigating power constraints and sustainability targets ACCESS THE INSIGHTS Musk’s SpaceX develops its own AI models and constructs data centres to run them, while Ellison’s Oracle has built a big business supplying computing power to others. The 500 people on the wealth index lost a collective US$185 billion on Thursday, the 14th-biggest one-day rout since Bloomberg began its ranking in 2012. It comes after a period when tech billionaires were on track for their best year ever, accounting for 36 per cent of the index’s total wealth amid AI’s relentless growth. BLOOMBERG Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free. Nvidia Jensen Huang Elon Musk SpaceX Data centres Share with us your feedback on BT's products and services Feedback TRENDING NOW Analysts cut DBS target price on lower 2027 earnings, but see buying opportunity after share price slide Waymo founder predicts ‘landslide’ robotaxi adoption in Singapore, driven by high car costs The limits of China’s trade concessions to Europe Who are some of the longest-serving CEOs among Singapore’s blue-chip companies?