Stock Rout Costs CEO $20B in One Day

Monday's market rout of chip-maker Nvidia cost its CEO a pretty penny: Jensen Huang lost about $20 billion, or 20% of his net worth, reports Bloomberg. The company's shares plunged 17% thanks to the stunning success of Chinese startup DeepSeek in the world of artificial intelligence, and pretty much the entire tech market slumped. Oracle chairman Larry Ellison actually lost more money than Huang, $22.6 billion, though it represented a smaller percentage (12%) of his overall fortune.

Ellison fell from third to fifth on the world's-richest list, according to Forbes. All told, the planet's richest 500 people lost a combined $108 billion on Monday. That includes Dell CEO Michael Dell ($12.4 billion), Google co-founders Larry Page ($6.3 billion) and Sergey Brin ($5.9 billion), and Tesla CEO Elon Musk ($5.3 billion). Nvidia and the broader tech market looked poised to recoup at least some of Monday's losses at the opening bell, notes CNBC. Nvidia futures were up about 2%.