Nvidia CEO Jensen Huang has weighed in on California’s proposed one-time billionaire tax, which would impose a 5% levy on residents with a net worth of at least $1 billion. With his fortune estimated at $184 billion, Huang could face an $8 billion tax bill over five years. Huang offered a candid take on his wealth, saying: “The fact that I can afford to pay $8 billion in taxes over five years is a privilege.
But instead of objecting, he told CBS News he would view paying billions more in taxes as a “privilege” and a “responsibility. He added humorously: “I’m not afraid of paying taxes — I’m just afraid of being poor.” Nothing would give me more joy than to pay even more taxes.
Venture capitalist David Sacks, now serving as an AI czar, also announced his move to Austin.
Huang has urged the people not to leave the state despite its high taxes, according to a report by Bloomberg. Huang, who has a net worth of $152.3 billion according to the Bloomberg Billionaires Index, stressed that he is “perfectly fine” with new taxes, noting that living in Silicon Valley is a choice he embraces. Nvidia CEO Jensen Huang has now made a strong case for California. The comments made by the Nvidia CEO comes at a time when several billionaires have relocated elsewhere, citing frustration over the proposed wealth tax. His remarks contrast with the actions of other tech leaders. Google co‑founders Sergey Brin and Larry Page have left California, while investor Peter Thiel opened a Miami office for Thiel Capital. Huang’s stance highlights a divide among Silicon Valley elites. Huang argues the state’s climate, innovation ecosystem, and talent pool outweigh financial concerns While some see California’s taxes as a burden. His comments suggest that for Nvidia’s chief, California remains the epicenter of technology and opportunity, even as others look for friendlier tax environments.