Recently, NVIDIA, a leading semiconductor company, faced a significant loss in its stock value. On Tuesday, the company’s stock price dropped by more than 9%, causing a massive one-day loss in its market capitalization (Mcap). This loss is so huge that it exceeds the combined wealth of India’s two richest individuals, Mukesh Ambani and Gautam Adani.
Biggest Single-Day Loss
On Monday, the U.S. markets were closed for a public holiday. When the markets reopened on Tuesday, they experienced a decline, with NVIDIA contributing significantly to this drop. NVIDIA’s stock price fell by 9.5%, resulting in a loss of $279 billion in its market cap in just one day.
Comparison with Ambani and Adani’s Wealth
To understand the magnitude of this loss, consider this: the combined wealth of Mukesh Ambani and Gautam Adani doesn’t even come close to NVIDIA’s one-day loss. According to Forbes’ Real-Time Billionaire List, Mukesh Ambani, the richest person in India and Asia, has a net worth of $117.3 billion, ranking 12th on the global list of the richest people. Gautam Adani, with a net worth of $83.4 billion, is the second richest in India and 21st in the world.
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More Than Elon Musk’s Total Wealth
The combined wealth of Mukesh Ambani and Gautam Adani is around $200 billion, whereas NVIDIA’s one-day market cap loss was $279 billion. This loss is even greater than the total wealth of the world’s richest person, Elon Musk. According to Forbes’ Real-Time Billionaire List, Elon Musk currently has a net worth of $241.7 billion, making him the wealthiest person globally.
NVIDIA Falls Out of the $3 Trillion Club
Due to this massive drop in stock value, NVIDIA’s position among the world’s largest companies has also been affected. Its total market cap has now decreased to $2.649 trillion. Until recently, NVIDIA was part of the $3 trillion market cap club, alongside Apple and Microsoft. Currently, Apple is valued at $3.387 trillion, and Microsoft is at $3.043 trillion, holding the first and second positions, respectively.
