TECH - The 'Silent' Billionaires Cashing In On The AI Boom (Besides Nvidia's Jensen Huang And OpenAI's Sam Altman) | Benzinga
The artificial intelligence revolution kicked into high gear in early 2023 following the widespread adoption of OpenAI‘s ChatGPT chatbot. Companies rushed to leverage this technology, leading to a notable improvement in their financial performance. As a result, the publicly-listed shares of these companies surged, enriching their founders and executives whose compensation is closely tied to stock awards.
Here’s a breakdown of the notable executives who reaped substantial gains by spearheading the AI revolution at their respective companies (or by just being in the right place at the right time):
1. Jensen Huang
Net worth: $79.5 billion
Forbes Billionaire Ranking: 17
Nvidia, Inc. (NASDAQ:NVDA) quickly pivoted to AI, securing a near-monopoly position in supplying high-performance AI accelerator chips. Under co-founder Huang’s leadership, Nvidia’s revenue soared by 126% to $60.92 billion in 2023, with earnings per share skyrocketing by 586% to $11.93. This remarkable growth propelled Huang’s net worth from $21.1 billion to $79.5 billion.
2. Charles Liang
Net worth: $4.2 billion
Forbes Billionaire Ranking: 769
Super Micro Computer, Inc. (NASDAQ:SMCI), led by chairman and CEO Liang, manufactures AI servers and storage solutions. Taiwan-born Liang’s net worth surged alongside the company’s success, reaching $4.2 billion, which saw it being added to the S&P 500 Index.