Why Jensen Huang Left Nvidia, and Why His Wife Still Shares Control of His Fortune
© Anders Eidesvik / Wikimedia Commons (CC BY 4.0, cropped)
For 33 years, Jensen Huang was the face of Nvidia. Now the man who built it into one of the world’s most valuable companies is gone, and the story behind his exit is still unfolding.
Nvidia announced on November 12 that Huang had resigned as president, CEO and board member, effective immediately. The company gave no reason.
Here’s what has been reported so far, what happens next at Nvidia, and why Huang’s wife still has a say over most of his fortune.
What Happened?
According to CNBC, Huang sent a memo to Nvidia staff on November 8 admitting to an affair. “I was unfaithful to my wife. My actions hurt her and our children. There is no excuse for what I did,” he wrote, CNBC reported.
The Financial Times reported that Huang had been romantically involved with Alice Huang, a former executive at the Singapore company Megaspeed. The two are not related. The New York Times reported that U.S. intelligence officials believe she works for China’s Ministry of State Security, while the Associated Press reported that Singapore authorities questioned her and found insufficient evidence of a crime.
The New York Times also reported a relationship with Kimberly Powell, Nvidia’s vice president of health care, who reported to Huang. Reuters said on November 13 that he had an intimate relationship with a second, unnamed employee. Huang, Powell and Alice Huang did not respond to requests for comment.
Nvidia’s board hired the law firm Wachtell Lipton to investigate and said it had “no reason to believe” national security or company secrets were compromised, according to the AP. President Trump said the FBI is investigating.
Who Runs Nvidia Now?
Chief financial officer Colette Kress, who has held that job since 2013, is now interim CEO while the board searches for a permanent replacement. Longtime director Harvey Jones became the company’s first-ever board chair.
“The Board has full confidence in Colette and the leadership team,” Jones said. Kress said she is “committed to building on the extraordinary foundation Jensen created over the last 33 years.”
Investors were shaken. Nvidia shares fell as much as 14% when trading opened on November 12 before recovering to close down about 4%. By Friday, the stock had lost about 12.75% for the week, according to CNBC. The company reports quarterly results on November 17.
Why His Wife Shares Control of His Shares
Huang remains Nvidia’s largest individual shareholder. According to the company’s 2026 proxy statement, he owned about 870.6 million shares, or 3.58% of Nvidia, as of March 2026.
But about 669 million of those shares are held in family trusts that Huang and his wife, Lori, manage together as trustees. That means major decisions about selling or voting much of the stake involve both of them. At Friday’s closing price, his holdings were worth roughly $140 billion.
Lori Huang has not commented publicly, and no divorce filing has been reported.
What Comes Next
Lawmakers want answers. House Foreign Affairs Committee Chair Brian Mast said Huang has agreed to appear, and the Senate Banking Committee has asked him to testify on December 3.
For a company that started in a Denny’s booth in San Jose in 1993 and grew into the engine of the AI boom, the next few weeks may be among the most important in its history.
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