NEW YORK, November 6. /TASS/. The combined net worth of Nvidia Corp. CEO Jensen Huang, SpaceX’s Elon Musk, and Oracle Corp. co-founder Larry Ellison has declined by $104.9 bln amid a stock market downturn following the Democrats’ win in the US midterm elections, Bloomberg reported.
Musk suffered the largest losses, with his net worth dropping by $79.7 bln. Huang’s fortune decreased by $15.1 bln to $150.9 bln, pushing him down to 13th place on the Bloomberg Billionaires Index from ninth. Meanwhile, Ellison lost $10.1 bln.
Expectations that a Democrat-controlled House and Senate will work to limit the construction of data centers - a critical component of AI infrastructure - helped drive shares of semiconductor makers and suppliers of computing power lower, the agency said. Nvidia plunged 9.3%, its steepest decline since January 2025, while SpaceX fell 9% and Oracle dropped 6.9%.
Midterm elections were held in the United States on November 3. Americans voted for 35 out of 100 senators and all 435 members of the House of Representatives. Gubernatorial elections also took place in 36 states. According to the latest estimates from US media, Democrats are poised to win a majority in both houses. Currently, Republicans hold the majority in both the Senate and the House of Representatives.