Nvidia chief executive Jensen Huang lost $15.1 billion in wealth on Thursday as a sharp sell-off in technology stocks followed sweeping Democratic victories in the US midterm elections, according to the Bloomberg Billionaires Index. Huang's net worth fell to $150.9 billion, pushing him down four places to 13th on the wealth ranking from ninth previously. He was among the biggest losers on the day, alongside SpaceX founder Elon Musk and Oracle co-founder Larry Ellison. Musk's fortune declined by $79.7 billion, while Ellison lost $10.1 billion, Bloomberg reported. Investors feared that Democratic control of Congress could bring tighter restrictions on data-centre construction, raising concerns about the pace of AI infrastructure investment, which supports demand for Nvidia's computing chips. US stocks lost about $2.5 trillion in value on Thursday. The Nasdaq Composite fell 5.52%, the S&P 500 declined 4.36% and the Dow dropped 3.44%. Nvidia shares plunged 9.3%, their steepest single-day fall since January 2025. SpaceX shares declined 9%, while Oracle dropped 6.9%. The 500 individuals tracked by the Bloomberg Billionaires Index collectively lost $185 billion on Thursday, marking the 14th-largest one-day decline since the index was launched in 2012.