Nvidia’s Jensen Huang, tech mogul Michael Dell thrown out of elite $100 billion club

Nvidia co-founder Jensen Huang and Dell Technologies founder Michael Dell saw their net worths drop below the $100 billion threshold after a brutal first quarter for global stocks, as a broad market sell-off wiped out billions from the fortunes of some of the world’s wealthiest individuals.

The number of centi-billionaires has shrunk from 16 to 13 this year, according to the Bloomberg Billionaires Index, as aggressive U.S. tariff policies have heightened market volatility.

The market downturn in the first three months of 2025, the worst since 2022, was fueled in part by investor jitters over U.S. President Donald Trump’s aggressive tariff policies, which have heightened volatility and weakened confidence.

Huang’s AI boom unravels

Huang, once one of the biggest beneficiaries of the AI stock boom, has seen his fortune drop by $17.7 billion this year as Nvidia shares tumbled 18% since January. His net worth now stands at $96.7 billion, ranking him 16th on Bloomberg’s Billionaires list.The decline comes amid concerns over AI market saturation, regulatory scrutiny, and the disappointing IPO of AI cloud startup CoreWeave, all of which have dampened investor sentiment and dragged down Nvidia’s stock.

Nvidia’s stock, which soared to record highs last year, has suffered as a result.

Despite the setback, Huang remains significantly wealthier than he was two years ago when his net worth stood at roughly $25 billion, though he is still well below his $130 billion peak from last November.

Michel Dell’s wealth takes a hit

Michael Dell has also taken a substantial hit, losing $24 billion in the first quarter of 2025. His fortune now hovers just below $100 billion, at $99.6 billion, placing him 14th on the list of billionaires.Despite strong earnings in February, shares of Dell Technologies have dropped nearly 22% this year as investors grow wary of slower-than-expected AI infrastructure spending.

Billionaires take heavy losses amid market turmoil

Spanish billionaire Amancio Ortega, founder of Inditex, the parent company of Zara, has also been knocked out of the $100 billion club. His net worth dropped by $2.2 billion to $99.1 billion after Inditex shares declined about 7% this year. Weaker consumer demand and unfavourable currency conditions have weighed on the company’s valuation.

Other high-profile billionaires have also taken heavy losses. Tesla’s Elon Musk remains the world’s richest person but has lost $110 billion this year, bringing his net worth to $323 billion. Oracle’s Larry Ellison and Amazon’s Jeff Bezos have also suffered steep declines, with their fortunes falling by $28.1 billion and $25.4 billion, respectively.

However, not all the ultra-rich have seen their wealth shrink. Warren Buffett and Bill Gates have bucked the trend, with Buffett’s net worth climbing by $24.5 billion to $167 billion, thanks to a rally in Berkshire Hathaway stock. Gates, largely due to his $78 billion in cash holdings, has added $2.9 billion this year, pushing his fortune to $162 billion.

Also read | $20 billion gone in one day! Nvidia’s Jensen Huang loses 20% net worth amid DeepSeek disruption

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