#DeepSeekImpact The world’s 500 wealthiest individuals, led by Nvidia co-founder Jensen Huang, saw their combined net worth drop by $108 billion on Monday as a tech-driven selloff, triggered by the rise of Chinese AI developer DeepSeek, sent major indices into a downward spiral.

Billionaires whose fortunes are linked to artificial intelligence were the biggest losers: Huang saw his fortune fall $20.1 billion, a 20% drop, while Oracle Corp. co-founder Larry Ellison’s $22.6 billion loss was larger in absolute terms, but represented just 12% of his fortune, News.Az reports, citing Bloomberg.

Dell Inc.’s Michael Dell lost $13 billion, and Binance Holdings Ltd. co-founder Changpeng “CZ” Zhao shaved $12.1 billion.

Tech-sector titans as a group saw $94 billion of wealth evaporate — roughly 85% of the Bloomberg index’s total decline. The Nasdaq Composite Index fell 3.1%, and the S&P 500 dropped 1.5%.