Key facts
- Nvidia CEO Jensen Huang said paying an estimated $8 billion in California's proposed billionaire tax would be a 'privilege'.
- Huang's net worth is estimated at $152.3 billion.
- Huang stated his fear is not of paying taxes, but of being poor.
- He encouraged people to move to or stay in California despite high taxes.
Nvidia CEO Jensen Huang has expressed his willingness to pay an estimated $8 billion in taxes under California's proposed one-time billionaire tax initiative. The tax would impose a 5% levy on residents with a net worth of at least $1 billion. Huang, whose net worth is estimated at $152.3 billion by the Bloomberg Billionaires Index, stated that paying such a sum would be a "privilege" and a "responsibility." Huang shared his perspective on wealth and taxes, humorously remarking that his true fear is "of being poor," not of paying taxes. He also reflected on his personal journey, describing himself as an embodiment of the American dream and crediting the U.S. with providing the opportunities for his success, recalling his early days working as a dishwasher. In contrast to other tech leaders who have relocated from California due to tax concerns, Huang urged people to stay in the state. He acknowledged California's high taxes but highlighted its favorable climate, innovation ecosystem, and talent pool as outweighing financial considerations. His remarks come as several billionaires, including Google co-founders Sergey Brin and Larry Page, and investor Peter Thiel, have moved out of the state.