Wednesday, NVIDIA Corporation (Nasdaq: NVDA) Chief Executive Officer Jen-Hsun Huang Revealed that he sold stock after the company’s 1999 IPO and purchased the shares for his parents Benz It’s his “only regret” – and his parents aren’t thrilled about it.
This revelation is related to BlackRock (Nasdaq: BLK) Chief Executive Officer Larry Fink The 56th Annual Meeting of the World Economic Forum.
Fink praised Nvidia’s long-term performance, noting that since the IPO, annualized shareholder returns have been approximately 30% to 37%, far exceeding BlackRock’s own 21% annualized total return.
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“Think about it. If every pension fund invested in Nvidia for an IPO, what would that mean for them?” Fink said, adding that it was a testament to Huang’s leadership.
Nvidia went public on January 22, 1999, pricing its IPO stock at $12 per share.
Teacher Huang answered a story, which aroused laughter from the audience.
Shortly after Nvidia went public, he sold his stock and bought his parents a luxury Mercedes S-Class, which he joked was “the most expensive car in the world.”
“My only regret was after the IPO – I wanted to buy something nice for my parents, so I sold Nvidia stock at a $300 million valuation,” Huang said, adding, “They regretted it.”
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Fink jokingly asked if his parents still owned the car, and Huang confirmed, “Yeah, they still own it.”
Last year, Nvidia became the first company to exceed $5 trillion in market capitalization. As of this writing, the company’s market capitalization is $4.45 trillion.
Over the past 12 months, Nvidia shares have gained 30.07%, and over the past five years, shares have gained 1,236.11%, according to Benzinga Pro.
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Founded in 1993, Nvidia reshaped the computing landscape with the invention of the graphics processing unit (GPU) in 1999, a technology that later became the foundation for modern artificial intelligence workloads.
In 2012, Nvidia introduced artificial intelligence technology that helped usher in the modern era of artificial intelligence. alex.coma neural network that marks the company’s leap ahead of many rivals in recognizing the transformative potential of artificial intelligence.