World’s Richest Lose $108 Billion in a Day Due to DeepSeek

The world’s 500 richest people, led by Nvidia co-founder Jensen Huang, lost a combined $108 billion on Monday as a tech-led selloff linked to Chinese AI developer DeepSeek sent major indexes lower.

Billionaires whose fortunes are tied to AI were the biggest losers: Huang’s fortune fell by $20.1 billion, or 20%, while Oracle co-founder Larry Ellison’s $22.6 billion loss was larger in absolute terms but represented just 12% of his fortune, according to the Bloomberg Billionaires Index.

 Jensen Huang

Dell’s Michael Dell lost $13 billion, while Binance Holdings co-founder Changpeng “CZ” Zhao lost $12.1 billion.