'Those Destined to Succeed Succeed No Matter What'... Jensen Huang Sold 440 Billion Won Worth of Nvidia Shares Before Plunge

Sold $322.7 Million in July Alone
Combined $500 Million Sold Including June
Pre-Sale Contract Signed "Luck Was Also On Our Side"

Jensen Huang, CEO of Nvidia, the leading company in artificial intelligence (AI) chips, reportedly sold over 440 billion won worth of Nvidia shares before the stock market crash.

According to the 10b5-1 filing Huang submitted to the U.S. Securities and Exchange Commission (SEC) on the 5th (local time), he sold a massive amount of shares worth $322.7 million (approximately 440 billion won) last month. Combining the shares sold in June and July, the total reaches $500 million.

This was before the significant correction of tech stocks, including Nvidia, triggered by the AI bubble theory emphasized through the big tech companies' Q2 earnings releases and recession concerns following the U.S. employment data shock. Currently, Nvidia's stock price is about 25% down from its peak on June 18.

However, CEO Huang is expected to be free from controversy over executives selling shares at peak prices, which is cited as a cause of the stock plunge. The 10b5-1 filing, which serves as the basis for Huang's stock sales, is a contract made with a securities firm and submitted to the SEC by corporate insiders to pre-announce their intention to sell company shares at specific prices and times. This is why Bloomberg only described Huang's timing of stock sales as "lucky."

Huang plans to continue selling Nvidia shares this month according to the agreed plan. Since 2020, the total amount of Nvidia shares sold by Huang has reached $1.4 billion.

Meanwhile, according to the Bloomberg Billionaires Index, Huang's net worth has decreased by $5.9 billion to $88.4 billion (approximately 121 trillion won) due to the recent sharp decline in Nvidia's stock price.

This content was produced with the assistance of AI translation services.