The Democrats' Victory Cost The Head Of Nvidia His Spot Among The World's 10 Richest People

The U.S. election also had an impact on the net worth of Elon Musk and Oracle co-founder Larry Ellison.

The Democrats’ victory in the U.S. election

cost Nvidia CEO Jensen Huang his spot among the world’s ten richest people. The fortunes of SpaceX founder Elon Musk and Oracle co-founder Larry Ellison have also declined significantly.

This was reported by Bloomberg.

Huang lost $15.1 billion. His net worth is now estimated at $150.9 billion. He has dropped from 9th to 13th place on the list of the world’s richest people.

Musk lost $79.7 billion, and Ellison lost $10.1 billion.

Overall, the combined wealth of the 500 people on the Bloomberg list has decreased by $185 billion since the election.

This trend is linked to a drop in tech stocks—in particular, Nvidia saw its stock price fall by 9.3%. This is the sharpest decline since January of last year.

Investors believe that the U.S. Congress will now block the construction of new data centers, which are a crucial part of artificial intelligence infrastructure. In recent years, AI has been the main driver of growth in the value of tech giants.





As a reminder, on November 3, special congressional elections were held in the U.S., following which the Democrats took control of the Senate and the House of Representatives.

U.S. President Donald Trump, following the Republicans’ defeat, threatened to veto Democratic initiatives.

At the same time, he acknowledged the results and said he was ready to cooperate with the Democrats.

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