NVIDIA plummeted nearly 17%, led by Huang Renxun, the tech giant's wealth has shrunk sharply

On January 28th, Nvidia (NVDA. O) shares plunged nearly 17%, losing a record $589 billion in market value. According to Forbes.com, the company's CEO and largest individual shareholder Huang Renxun's net worth shrank by $20.80 billion at the close, falling from $124.40 billion to $103.70 billion, and from Forbes' 10th place on the real-time billionaire list to No. 17. Oracle (ORCL. N) fell 14%, and Chairperson Larry Ellison's net worth fell by $27.60 billion, falling from the third richest person in the world to fifth. The world's 500 richest people lost a combined $108 billion on Monday, according to the Bloomberg Billionaires Index, and the wealth of the tech industry giants as a whole evaporated by $94 billion, accounting for about 85% of the total decline in the index.