Nvidia CEO Falls Out of the Top 10 Richest People in the World After the U.S. Election — Bloomberg

The Democrats’ victory in the U.S. election resulted in Nvidia CEO Jensen Huang losing his spot among the world’s 10 richest people. The fortunes of SpaceX founder Elon Musk and Oracle co-founder Larry Ellison also saw a significant decline.

Huang lost $15.1 billion. His net worth is now estimated at $150.9 billion. As a result, he dropped from 9th to 13th place on the list of the world’s richest people.

Musk lost $79.7 billion, and Ellison lost $10.1 billion.

Overall, the combined net worth of the 500 people on the Bloomberg list fell by $185 billion following the election.

This trend is linked to the decline in tech stocks—in particular, Nvidia saw its stock price drop by 9.3%. This is the sharpest decline since January of last year.

Investors believe that the U.S. Congress will now block the construction of new data centers, which are a crucial part of artificial intelligence infrastructure. In recent years, AI has been the main driver of growth in the value of tech giants.

This was reported with reference to Bloomberg.

As a reminder, the U.S. Congress invited Jensen Huang to a closed-door briefing, according to CNBC.

Nvidia CEO Jensen Huang has joined Tsinghua University’s advisory board—ECNS.