Rudro Chakrabarti
9 min read
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A billionaire who went big on Nvidia (NASDAQ:NVDA) this year just closed his wallet.
“No further investment without Jensen,” billionaire Leo KoGuan told Bloomberg (1) in a text message, a day after Jensen Huang resigned as Nvidia’s CEO. KoGuan, best known as one of the largest individual shareholders in Tesla (NASDAQ:TSLA) and worth about $13.2 billion by Bloomberg’s estimate, said he has put about $1.3 billion into the chipmaker, though Bloomberg couldn’t independently verify that figure. His pledge covers new purchases; he didn’t say he’d sell the shares he already owns.
Huang, who co-founded Nvidia in 1993, resigned as president, CEO and board member effective immediately, Nvidia announced Nov. 12. The board accepted his resignation Nov. 11, according to a regulatory filing. CFO Colette Kress is serving as interim CEO, and the board said Nov. 13 it was still choosing a search firm to find a permanent replacement. Huang himself has been involved in that search and has personally contacted at least one potential candidate, The Washington Post reported (2), citing people familiar with the matter. His exit followed reports of extramarital relationships, including one with a former Megaspeed executive who U.S. intelligence officials reportedly suspect (3) was recruited by China’s top spy agency. Beijing has denied she is a spy.
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KoGuan is far from the only big name in Huang’s corner. Tesla and SpaceX CEO Elon Musk has signed on to a petition to bring Huang back, joining 100,000+ names and KoGuan himself (4). Two heavyweight fund managers, whose names also appear on the petition, have asked the board to pump the brakes in a formal letter.
Here’s why the money crowd is so rattled — and why the risk for shareholders may not end with who runs the company.
‘The supreme creator’: The big money in Huang’s corner
KoGuan hasn’t been subtle. On X (5), he called Huang “the supreme creator” and said he hopes to invest in any new company Huang starts or buys.
That’s a change of pace for an investor who was loading up earlier this year. In March, KoGuan said he’d doubled his Nvidia stake (6) to 2 million shares.
