Nvidia founder's trust structure clouds control over $140 billion stake
Trusts jointly controlled by Jensen Huang and his wife Lori hold most of the Nvidia founder's fortune, adding complexity to the future of the shares after his resignation from the company. The structure also may limit any rapid disposal of stock, potentially reducing near-term pressure on Nvidia shares despite uncertainty over ownership and control.
Highlights
- Jensen and Lori Huang jointly own about 800 million Nvidia shares via trusts and LLCs, valued at $135 billion, plus Jensen's direct $12 billion stake.
- SEC filings show their trusts include the Jen-Hsun and Lori Huang Living Trust (530 million shares), multiple irrevocable trusts, and 135 million shares held in LLCs.
- Equal spousal ownership and complex trust structures could complicate future control, asset transfer, and voting power over $140 billion in Nvidia shares.
Trust holdings shape control of Nvidia shares
As reported by CNBC, SEC filings show Jensen and Lori Huang jointly own about 800 million Nvidia shares through a network of trusts and LLCs used for tax and estate planning, while Jensen Huang directly owns about 70 million shares. The jointly held stake is valued at roughly $135 billion, with his direct stake worth about $12 billion.The filings state that each of them may be deemed to share beneficial ownership and shared voting and investment power over the stock. Their holdings include about 530 million shares in the Jen-Hsun and Lori Huang Living Trust, 31.4 million shares in the Huang 2012 Irrevocable Trust, 109 million shares in the Huang Irrevocable Remainder Trust, and about 135 million shares held by LLCs whose sole member is the Living Trust.
Lori Huang is also president of the Jen-Hsun and Lori Huang Foundation, which owns 69 million shares and reported $9 billion in net assets in 2024, according to IRS filings. Trust and estate lawyers say such structures are common for wealthy founders, although equal ownership with a spouse is less typical and can complicate questions around future control or transfer of stock.
Attorneys say a living trust can help a couple avoid probate and may provide a full step-up in basis for the surviving spouse when one spouse dies. They also note that assets in a revocable trust can generally be sold or divided more easily in a divorce, although transfer restrictions with the company may limit how shares can be moved or sold.
Previously, we highlighted how market-based disinvestment has dominated the Centre’s proceeds, with strategic sales playing a limited role.
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