NVIDIA’s (NVDA, Financial) stock suffered a significant drop of nearly 17%, leading to a record-breaking market value loss of $589 billion. This dramatic decline impacted NVIDIA CEO Jensen Huang, who is also the company's largest individual shareholder. His net worth decreased by $20.8 billion, dropping from $124.4 billion to $103.7 billion, moving him from 10th to 17th on the Forbes Real-Time Billionaires list.
Similarly, Oracle (ORCL) experienced a 14% decrease in its stock price. This resulted in a $27.6 billion reduction in net worth for its chairman, Larry Ellison, moving him from third to fifth on the global rich list.
According to the Bloomberg Billionaires Index, the world's top 500 billionaires lost a total of $108 billion in combined wealth, with tech industry giants facing a collective $94 billion reduction, accounting for around 85% of the index's total decline.
