Seven billionaires associated with Nvidia have collectively lost about a third of their wealth amid a scandal surrounding the mistresses of the company's founder and CEO Jensen Huang. Three of them are no longer billionaires, and Huang's own fortune has dropped by $62 billion, Forbes reports.
After the scandal surrounding Huang's affair with Chinese entrepreneur Alice Huang and the subsequent resignation of Nvidia's chief, the company's shares are down 11% since Sunday and 31% from their October peak. Huang's fortune dropped to $145 billion, and he fell out of the top ten richest people in the world. The combined value of six managers and other current and former board members decreased by $5.6 billion to approximately $21 billion.
According to Forbes estimates as of November 12, the wealth of the seven billionaires and ex-billionaires associated with Nvidia is divided as follows:
- Jensen Huang, co-founder and former CEO: Net worth: $145 billion, down $62 billion.
- Mark Stevens, venture capitalist and board member: $9.7 billion, down $2 billion.
- Tench Cox, venture capitalist and board member: $7 billion, down $2.2 billion.
- Harvey Jones, chairman of the board: $1.7 billion, down $500 million.
- Colette Kress, CFO and interim CEO: $900 million, down $300 million.
- Brooke Sewell, venture capital investor and board member: $900 million, down $300 million.
- Jay Fourey, former vice president: $900 million, down $300 million.
On October 6, Nvidia's capital reached a record high of $5.8 trillion. Three days later, The New York Times reported that Huang had a close relationship with Alice Huang, who is associated with Mega Speed, a company that buys Nvidia chips. American intelligence agencies suspect her of collaborating with Chinese intelligence. Beijing denies the allegations.