During the rotation of the US stock market: Jensen Huang drops out of the world's top ten billionaires, Walmart's three siblings enter the rankings

Caixin February 14 News (Editor: Ma Lan) The U.S. stock market is experiencing a sell-off triggered by artificial intelligence, with sectors such as software and fintech declining sharply over the past week, prompting investors to move into safer areas like consumer staples.

This rotation has also caused changes in the rankings of the world’s wealthiest individuals. According to the Bloomberg Billionaires Index, NVIDIA CEO Jensen Huang has dropped out of the top ten richest people globally, with his wealth now at $151 billion. Since the beginning of the year, his wealth has shrunk by more than $3 billion.

Aside from Jensen Huang, almost all tech billionaires have experienced a decline in wealth this year. For example, Google co-founders Larry Page and Sergey Brin, currently ranked second and third, have each lost over $5 billion.

The most significant wealth decline belongs to Oracle Chairman Larry Ellison, whose wealth has decreased by $34.8 billion to $213 billion this year, a drop of over 45% from his peak. Another heavily impacted tech billionaire is Amazon founder Jeff Bezos, whose wealth has shrunk by nearly $27.8 billion this year.

Meanwhile, Jim Walton, Rob Walton, and Alice Walton have jointly entered the top ten wealthiest individuals globally, with a combined net worth of $465.8 billion. These three siblings are the three founders of Walmart, whose stock has risen over 18% this year, contrasting sharply with the capital outflows from the tech industry.

Walmart’s recent digital transformation has been a key driver of its stock price increase. This shift has helped the retailer capture market share, attract more online shoppers, and maintain its low-price strategy. This approach has received strong support from investors.

At the beginning of this month, Walmart’s market capitalization surpassed $1 trillion, setting a new record for U.S. retailers. Amid the turbulence in the AI sector, Walmart’s gains have been particularly notable.

In contrast to the overall decline in the tech industry, Elon Musk’s wealth has increased by $57.2 billion this year, reaching a record high of $677 billion. A key factor behind Musk’s wealth growth is the merger of SpaceX and xAI, which has valued the newly formed company at over $1 trillion.