Jensen Huang loses $7.4 billion in 30 minutes, falls two spots in Forbes’ riches list

Nvidia CEO Jensen Huang listens as President Donald Trump speaks during an event at the U.S. Institute of Peace, in Washington. (AP Photo/ File)

Nvidia CEO Jensen Huang has lost $7.4 billion in 30 minutes of trading on Monday amid the ongoing fallout over affair with an alleged Chinese government agent.

Huang, whose net worth is around $154 billion, fell from eighth to tenth spot in the Forbes’ billionaire ranking behind Berkshire Hathaway Warren Buffett and Oracle’s Larry Ellison.

Nvidia shares were also down by 4.3% on Monday after the company’s board launched an investigation into reports that Huang had been a spying target after a romantic relationship with an executive suspected of working for Chinese intelligence.

US President Donald Trump has said that the FBI is investigating Huang’s affair with the alleged Chinese agent. He, however, said he doesn’t think the executive who has helped to develop artificial intelligence has a reason to worry.

“I know the FBI is looking into it in terms of something else, and I think that he’ll be in good shape,” Trump said at a White House briefing.

Huang, is one of the most powerful tech leaders, and has close relationship with Trump. In the past, he has called for lifting restrictions on Nvidia’s ability to sell chips around the world, including China.