Nvidia CEO Jensen Huang, once a fixture in the $100 billion club, has seen his net worth plummet by nearly $10 billion, dropping him out of the elite ranks of the world’s richest. The decline, attributed to a sharp fall in Nvidia’s share price, reflects the broader tech downturn that has rattled the market in recent months.

Nvidia, a leading player in the graphics processing unit (GPU) market, has been hit hard by the cooling demand for high-end gaming hardware and the slowing growth in the cryptocurrency sector. This downturn has weighed heavily on the company’s stock performance, with its share price dropping by over 50% since its peak earlier this year.

The impact on Huang’s personal wealth is significant. His net worth, once hovering around $110 billion, has now fallen to approximately $101 billion, according to Bloomberg Billionaires Index. This drop, while substantial, does not diminish Huang’s position as one of the world’s wealthiest individuals. He remains firmly in the top 10, a testament to Nvidia’s dominance in the chip industry.

However, the recent decline serves as a stark reminder of the volatility in the tech sector and the fortunes of its leaders. The market’s current mood, coupled with Nvidia’s exposure to cyclical trends, has created a challenging landscape for the company and its CEO.

While Huang’s personal wealth has taken a hit, his focus remains on navigating Nvidia through this turbulent period. The company is investing heavily in artificial intelligence (AI) and the metaverse, aiming to capitalize on long-term growth opportunities. The success of these endeavors will ultimately determine whether Huang can regain his billionaire status and solidify Nvidia’s position as a leader in the evolving tech landscape.