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Business: Nvidia stock, which has been flying like a rocket in recent years, suffered heavy losses on Tuesday. The shares of the largest semiconductor manufacturing company fell by more than 9 percent, causing the company to suffer the biggest single-day decline in its market cap in its history. The company's market cap fell so much in a single day that it is more than the entire wealth of India's two richest people Mukesh Ambani and Gautam Adani.
The biggest loss happened in one day
The US market was closed on Monday. When the market opened on Tuesday after the public holiday, the US market fell into a decline. The most important contributor to that decline was Nvidia, whose share price fell by 9.5 percent. Due to this, Nvidia's market cap decreased by $ 279 billion in a day.
This is the total wealth of Ambani and Adani
The magnitude of this decline can be gauged from the fact that even if the combined wealth of India's two richest people Mukesh Ambani and Gautam Adani is combined, the figure falls far short of that figure. According to Forbes' Realtime Billionaire List, the net worth of India's and Asia's richest person Mukesh Ambani is currently $117.3 billion. He is ranked 12th in the list of the world's richest people. Gautam Adani, on the other hand, is India's second and the world's 21st richest person with a net worth of $83.4 billion.
Elon Musk has suffered a loss greater than his entire wealth
The combined net worth of Mukesh Ambani and Gautam Adani reaches $200 billion, while Nvidia's market cap has lost $279 billion in a day. This fall is more than the total wealth of the world's richest person Elon Musk. In Forbes' real-time list, Elon Musk is currently at the top of the list of the world's richest people with a net worth of $241.7 billion.
Nvidia out of the $3 trillion club
Nvidia has also suffered a loss in the list of the world's biggest companies due to this huge fall in its shares. Nvidia's total market cap has now come down to 2.649 trillion dollars. Until a few days ago, Nvidia was included in the list of companies with a 3 trillion market cap along with Apple and Microsoft. Currently, Apple is at the first position with a market cap of 3.387 trillion dollars and Microsoft is at the second position with 3.043 trillion dollars.
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