Nvidia CEO Jensen Huang's leather jacket sells for $960,000 at Sotheby's

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Leather jacket belonging to Nvidia CEO Jensen Huang sells for $960k, way above the $40-60k estimate

Huang's jackets have become a tech sector icon and a staple CEO 'uniform' piece

The proceeds wil help fund fellowships and more across tech

A black Tom Ford leather jacket worn and signed by Nvidia CEO Jensen Huang has sold at a New York auction for $960,000.

"The response to this sale surpassed even our highest expectations," Sotheby's head of modern collectibles Brahm Wachter explained, with the jacket selling for around $900,000 more than auctioneers had anticipated, given the auction house's estimate of $40,000 to $60,000.

The jacket itself – one of many that the CEO has owned, of course – has become a staple recognized by the entire tech sector, with Huang rarely spotted out in public wearing anything else.

Jensen Huang's jacket sold for $0.9 million

This specific jacket came from Tom Ford's Spring-summer 2023 collection, however the CEO has been wearing similar jackets for years, leading similar examples to have become essential parts of any Nvidia keynote or tech conference.

Huang is one of a growing number of CEOs who have chosen uniformity and simplicity in their clothing – Mark Zuckerberg's blue jeans and grey t-shirt, and Steve Jobs' black turtleneck, also become similarly iconic.

Independent verifiers are said to have confirmed both the jacket's authenticity and the signature's authenticity, revealing that it was worn by Huanh at the 2023 Foxconn Tech Day.

Clearly, it being Jensen Huang's jacket is the core reason why it fetched nearly $1 million at auction. His company, Nvidia, is somewhat of an AI success story, having risen from a valuation of around $300 billion in 2020 to $4.9 trillion today.

At the time of writing, Nvidia is the world's most valuable companies, just a reach ahead of Apple - with the $940,000 cost buying you around 4653 shares in the company at today's market price.

The proceeds are set to help fund Edge Institute, a nonprofit that will support fellowships, grants and residencies across the tech sector.

Via CNBC