A ferocious rally in AI stocks has sent Nvidia co-founder Jensen Huang's fortune soaring, pushing his company's market capitalization to exceed that of Amazon.com for the first time.
The rally added another billionaire to Huang's family. His cousin, Lisa Su, is the CEO of Nvidia competitor Advanced Micro Devices, and his stock has doubled in the past year, making him worth $1.2 billion. .
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Of the 500 richest individuals, 30 attribute at least some of their wealth to companies tracked by the Bloomberg Global Artificial Intelligence Index. Together, these holdings have added $124 billion to their net worth so far this year, accounting for 96 percent of the total wealth captured in the Bloomberg Billionaires Index.
The biggest winners include Juan and Mark Zuckerberg, whose Metaplatform has ranked second in the S&P 500 index for two consecutive years, behind Nvidia. Steve Ballmer rode the wave of optimism surrounding his partnership with Microsoft and OpenAI, and Michael Dell saw his fortune soar thanks to his AI initiatives at Dell Technologies and Broadcom.
Charles Liang, co-founder of Super Micro Computer, has tripled his fortune to $6.2 billion this year as the company's stock price easily outpaced the returns of other AI stocks. . And Palantir Technologies co-founder Alex Karp's net worth rose to $2.8 billion last week as the AI-powered software maker's stock soared 31% in one day on the back of strong quarterly profits.
Other billionaires are also indirectly benefiting. SoftBank Group founder Masayoshi Son's net worth increased by $3.7 billion this year after semiconductor maker Arm Holdings nearly doubled in three trading sessions following the release of earnings results.
Spending on AI is boosting sales.
