The leather jacket-toting CEO sold 100,000 Nvidia shares last Friday and Monday, marking the start of a planned sale of up to six million shares announced in March of this year. The company’s stock price around that time hovered at $144.56 per share, meaning Mr. Huang just made nearly $15 million over the weekend. Nvidia recently hit a record stock price of $154.31, so the total sale, if the company’s stock price holds, is potentially valued at almost a billion dollars — $925,429,000 to be exact. Despite that massive amount, it is but a drop in the bucket as his estimated net worth is $135 billion, says CNBC, putting him at number 10 on the Forbes list of the world’s richest people (at least at the time of writing).
This sale was planned months earlier with the Rule 10b5-1 trading plan, which helps avoid corporate insiders from being accused of insider trading. Huang’s timing is impeccable, though, as his stock sale started execution just as Nvidia’s value hit record highs. This also isn’t the first time that Nvidia’s C-suite has executed an 10b5-1 plan and benefited from its sky-high stock prices. Just last year, its executives and directors sold over $1.8 billion in Nvidia stock, with Jensen raking in $713 million in cash after selling six million shares — the same amount planned for this year.
