Nvidia CEO Jensen Huang loses $7.4bn in 30 minutes, drops 2 spots in Forbes rich list

Nvidia CEO Jensen Huang slipped to 10th place on Forbes’ list of the world’s richest people after his net worth plunged by $7.4 billion on Monday. The drop followed a sharp fall in the company’s share price amid an investigation into his relationship with an alleged Chinese spy.Huang’s net worth dropped from $162.2 billion to $154.7 billion within the first half-hour of trading, pushing him down two places from No. 8 to No.

10 in the Forbes real-time billionaire rankings, according to a report by Forbes. He briefly fell out of the top 10 after Nvidia shares opened more than 7% lower, wiping out $10.3 billion from his fortune.Nvidia shares were down 5.5% at 1.30 pm EST on Monday, after falling as much as 7% in premarket trading. This was the first trading session since the company confirmed an investigation into Huang.

The development also put him below Berkshire Hathaway chairman Warren Buffett and Oracle co-founder Larry Ellison in the billionaire rankings.The fall in Nvidia shares also hit the company's market value.