The CEOs of Nvidia and Meta, Jensen Huang and Mark Zuckerberg, along with seven other tech billionaires, have seen their net worth increase by a combined $266.4 billion nearly six months into 2024.
According to data from the Bloomberg Billionaires Index, Huang leads the pack with a $62.1 billion year-to-date gain, bringing his net worth to $106 billion, thanks to Nvidia’s $3 trillion valuation.
As the president and chief executive of Nvidia, a maker of computer processors and artificial intelligence technology, Huang has driven the Santa Clara, California-based company to report $60.9 billion in revenue for the year ending January 28, 2024.
Nvidia’s stock performance has been nothing short of profitable. With a year-to-date gain of 147.2%, it is the fastest-growing stock on the NASDAQ 100 this year.
The share price closed at $1,224.40 on June 5, significantly higher than the $481.68 at the start of 2024. Nvidia’s stock has outperformed the NASDAQ Composite Index, which posted a year-to-date gain of 16.4%, and over the past year, Nvidia’s stock has gained 226.72%.
Following behind Huang is Mark Zuckerberg, with a $47.1 billion gain, as Meta’s share price saw a 42.35% jump year-to-date, standing at its current valuation of $1.25 trillion with a share price of $492.96.
Amazon CEO Jeff Bezos has also experienced a substantial increase in his net worth, adding $29.9 billion year-to-date. This brings his total wealth to $207 billion, securing his position as the second wealthiest individual globally.
Amazon’s financial performance has fueled this growth, with the company reporting $143.3 billion in revenue for the first quarter of 2024, a 13% increase from the previous year.
Net income soared by 229% to $10.4 billion, and operating expenses rose to $128 billion from $122.5 billion in 2023.
Notably, Amazon’s net cash flow increased by 82% to $99.1 billion for the trailing 12 months, compared to $54.3 billion for the same period ending March 31, 2023.
Other Tech CEOs
Other notable tech leaders have also seen significant gains. Alphabet founder Larry Page’s net worth has increased by $28.9 billion year-to-date.
Michael Dell, the CEO of Dell Technologies, has added $27.5 billion to his fortune. Sergey Brin, co-founder of Google, has seen his net worth grow by $25.2 billion.
Additionally, former Microsoft CEO Steve Ballmer gained $15.7 billion, Oracle CEO Larry Ellison has added $17.1 billion, and Microsoft founder Bill Gates has seen his net worth increase by $12.9 billion.
Even as Microsoft maintains its position as the world’s most valuable public company with a market capitalization of $3.15 trillion, Nvidia is rapidly closing in with a $3.01 trillion valuation.
