China-based AI startup DeepSeek caused the tech market to wobble earlier this week, as the release of its open-source R1 model led to mass sell-offs in tech shares.
It seems Nvidia CEO Jen-Hsun Huang may have taken a personal hit from the fallout, equating to a $20.8 billion loss to his net worth.
Nvidia was the worst hit by the market tumble, losing 17% of its stock value, equivalent to $600 million of its overall valuation.
Forbes reports that Huang's personal fortune dropped with it, sliding from $124.4 billion to $103.7 billion and dropping him from the 10th spot on its real-time billionaires list to 17th.
However, Nvidia's share price appears to have stabilised since then, and Huang's personal net worth along with it—as at the time of writing he sits 13th on the list with an estimated $108.9 billion.