'No Further Investment Without Jensen': Tycoon Freezes Cash Over Alleged Spy Scandal Resignation

Billionaire investor Leo KoGuan says he will stop buying Nvidia shares while Jensen Huang is no longer in charge of the chipmaker, following Huang's resignation amid reports of alleged extramarital relationships. Bloomberg reported KoGuan's pledge on Friday, 13 November.

'No further investment without Jensen,' KoGuan said in a text message to Bloomberg. He said he had invested about $1.3 billion (€1.18 billion and £982 million) in Nvidia, although Bloomberg could not independently verify the size of his holding.

KoGuan did not say he would sell his existing shares. His pledge applies to future purchases, not a sale of his current stake. It therefore does not amount to an announcement that he is withdrawing his existing investment. Nvidia, meanwhile, has begun searching for Huang's replacement.

A Resignation Under Scrutiny

Nvidia announced Huang's departure on Thursday, 12 November. A filing with the US Securities and Exchange Commission records his resignation as effective on 11 November. Huang co-founded the company in 1993 and led it for 33 years.

His exit followed reports of extramarital affairs, including a reported relationship with a woman suspected of spying for China. The espionage suspicion has not been established as fact. On 8 November, Nvidia said its board had opened an independent investigation into reports that Huang might have been targeted by a foreign intelligence operation.

Nvidia said it had no reason to believe national security or company secrets had been compromised. Two days later, independent directors appointed former acting US attorney Joon H. Kim and law firm Wachtell, Lipton, Rosen & Katz to investigate. The appointment followed the board's decision to examine the reports.

Nvidia named chief financial officer Colette Kress, who joined in 2013, as interim chief executive. She will retain her finance responsibilities while the board searches for a permanent replacement. Director Harvey Jones has become the company's first chairman. The company has not announced who will take over permanently.

Why Koguan Still Backs Huang

KoGuan has defended Huang publicly on X, describing him as 'the supreme creator' and praising his role in building the global semiconductor industry. He acknowledged mistakes but argued that Huang's achievements deserved greater weight.

'His strengths are far exceeding his weakness,' he wrote. KoGuan also claimed that Elon Musk, investor Gavin Baker and US President Donald Trump had urged Huang to stay. His account does not, on its own, establish that all three made such appeals.

Musk separately said on X that hiring Huang would be 'an honor', in response to another user's suggestion. That expression of interest was not an employment offer, and no prospective role has been announced.

KoGuan, whose fortune was estimated at $13.2 billion (€11.94 billion and £9.97 billion) by the Bloomberg Billionaires Index, began investing in Nvidia in March 2026. His wealth had previously been concentrated in Tesla; he has also disclosed investments in SpaceX and Google's parent company, Alphabet.

His stance is not a wholesale rejection of Nvidia's prospects. In another post on Friday, KoGuan said he saw no change in its three-year trajectory, but intended to put more money into other artificial intelligence businesses. His comments distinguish his view of Nvidia's prospects from his decision to pause further purchases while Huang is out.

He also expressed hope of investing in a company Huang might establish or acquire. That is a statement of interest, not a confirmed deal. For Nvidia, the board's search will determine who succeeds its founder; for KoGuan, Huang's status will determine whether he adds to his holding.