TechFlow reported, citing Jinshi News, that Nvidia (NVDA.O) shares plunged nearly 17%, wiping out $589 billion in market value—the largest single-day market cap decline in U.S. stock history.
According to Forbes, the company's CEO and largest individual shareholder, Jensen Huang, saw his net worth shrink by $20.8 billion at closing, falling from $124.4 billion to $103.7 billion, dropping him from 10th to 17th on the Forbes Real-Time Billionaires List.
Oracle (ORCL.N) fell 14%, causing chairman Larry Ellison’s net worth to decline by $27.6 billion, moving him from third to fifth place on the global billionaires ranking.
The Bloomberg Billionaires Index showed that the world's top 500 richest individuals collectively lost $108 billion on Monday, with tech industry giants accounting for $94 billion in losses, roughly 85% of the index's total decline.
