"Hope to soothe the tense market," Tesla billionaire increases stake in NVIDIA
Chinese billionaire Leo KoGuan bought another 1 million shares of NVIDIA on Saturday amid a global asset sell-off triggered by the US-Iran conflict, bringing his total holdings to 2 million shares. For years, he has almost entirely focused on Tesla stock. He stated, "I hope this move can contribute a little to calming the tense market."
As the situation in the Middle East triggers a global asset sell-off, Chinese billionaire Leo KoGuan has doubled his holdings in NVIDIA, demonstrating his confidence in the market through action.
On Saturday morning, KoGuan posted on platform X, stating, "As promised, I bought another 1 million shares of NVIDIA today." In the previous days, he had announced the completion of his initial position. Thus, his total holdings in NVIDIA have reached 2 million shares, with an estimated total investment of approximately $350 million based on recent closing prices.
This acquisition of NVIDIA is a milestone in KoGuan's personal investment portfolio. According to the Bloomberg Billionaires Index, his net worth is approximately $13.4 billion, and for many years it has been almost entirely concentrated in Tesla stock. Although the $350 million investment in NVIDIA represents a limited proportion of his overall wealth, it signifies a shift in his asset allocation strategy.
The timing of this increase in holdings is particularly noteworthy. Since the U.S.-Iran conflict, global stock markets have been under pressure, with both bonds and stocks facing sell-offs. NVIDIA has dropped approximately 6% this year, while Tesla's decline is close to 10%, in contrast to the S&P 500 index, which has fallen by less than 2%. KoGuan expressed, "I hope to contribute a little to calming the tense market, and I wish everyone good luck."
