Nvidia’s market cap surpasses $300 billion…Jensen Huang sold $230 billion.

Nvidia CEO Jensen Huang sold over 200 billion won worth of shares last month, according to Bloomberg on the 3rd.
According to documents filed with the US Securities and Exchange Commission (SEC), CEO Huang sold 1.3 million Nvidia shares in June. The sales amount totaled $169 million (about 234.4 billion won).
Huang sold the shares when Nvidia’s market capitalization first exceeded $3 trillion.
Boosted by the AI boom, Nvidia’s stock price has been on a high streak for the past two years. After surpassing $1 trillion in market cap in June last year, it broke through $2 trillion in February this year, and finally reached $3 trillion on June 5th.
The average selling price of the shares Huang sold was $130 per share, and the reason for the share sale was not disclosed.
Bloomberg explained that the share sale was in accordance with the 10b5-1 trading plan adopted in March.
The 10b5-1 trading plan refers to a contract between a company insider and a securities firm to sell company shares at a specific price or time.
At the time, Huang was known to be planning to sell 600,000 Nvidia shares (1/10th of a forward split) by March next year under this plan.
Since early 2020, Huang has been selling shares, including stock options, and the total is estimated to be around $1.1 billion, including the recent sales, according to Bloomberg.
According to the Bloomberg Billionaires Index, Huang’s net worth is estimated to be $113 billion (about 156.7 trillion won), ranking 13th overall.
Huang owns about 3.5% of all issued Nvidia shares. (Photo=Yonhap News)