{"id":7184,"date":"2026-10-21T01:31:37","date_gmt":"2026-10-21T01:31:37","guid":{"rendered":"https:\/\/www.vaultinsider.top\/?p=7184"},"modified":"2026-10-21T01:31:37","modified_gmt":"2026-10-21T01:31:37","slug":"as-billionaires-fight-a-tax-hike-jensen-huang-says-paying-8-billion-is-a-privilege","status":"publish","type":"post","link":"https:\/\/www.vaultinsider.top\/?p=7184","title":{"rendered":"As billionaires fight a tax hike, Jensen Huang says paying $8 billion is a \u2018privilege\u2019"},"content":{"rendered":"

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California is home to dozens of entrepreneurs who have made billions off their companies. Now some are packing up and leaving as the coastal state weighs tax hikes against the rich, but Nvidia CEO and longtime California resident Jensen Huang is happy to pay his fair share.\u00a0<\/p>\n

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\u201cI don\u2019t mind paying taxes. The more you make, the more taxes you pay. I\u2019m okay with that,\u201d Huang said in a recent interview with CBS Sunday Morning.<\/em> \u201cI am the ultimate American Dream.\u201d<\/p>\n

Billionaires like Google\u2019s cofounder Sergey Brin and former CEO Eric Schmidt have been waging war against Proposition 40 in California: a one-time 5% tax on residents with assets over $1 billion. The state hopes this will increase temporary revenue by tens of billions spread over several years to fund health care and education. And some of California\u2019s ultrarich are fighting back. Tech billionaires have raised more than $340 million and spend more than $1 million daily in a campaign to defeat Prop 40, according to the Guardian.<\/em> Others like Palantir\u2019s Peter Thiel and Meta\u2019s Mark Zuckerberg have already left the state for more tax-friendly areas.\u00a0<\/p>\n

But Huang, the world\u2019s ninth-richest person with an eye-watering $180 billion net worth, isn\u2019t afraid to pay up. The leader of the world\u2019s largest chip company reasoned that his success wouldn\u2019t have been possible without the opportunities America afforded him. He was able to pursue a high-level education, create a new company, pursue his dreams, and meet the people that \u201cmade Nvidia possible.\u201d Huang has lived a success story that millions dream of\u2014and he\u2019s happy to contribute to the same system that nurtured his ambitions.\u00a0<\/p>\n

\u201cThe fact that I can afford to pay $8 billion in taxes over five years is a privilege,\u201d Huang continued. \u201cI\u2019m not afraid of paying taxes. I\u2019m just afraid of being poor.\u201d<\/p>\n

Fortune<\/em> reached out to Nvidia for comment.\u00a0<\/p>\n

Huang urges people, \u2018Move to California, don\u2019t leave\u2019 as billionaires flee<\/h2>\n

The \u201cMake Billionaires Pay Their Fair Share Act\u201d was introduced in March by Rep. Ro Khanna (D-Calif.) and Sen. Bernie Sanders (D-Vt.). Ahead of Prop 40\u2019s Jan. 1, 2026, residency cutoff, a slew of billionaires left the state. Google cofounders Larry Page and Brin moved their business entities to Florida and Nevada, and Travis Kalanick, the former CEO of Uber, also changed addresses to Austin.\u00a0<\/p>\n

As some billionaires balk at the tax hike, Huang has said that \u201cI haven\u2019t thought about it even once.\u201d Instead, he\u2019s continued to be outspoken about the upsides of living in the Golden State\u2014and called on others to make California their permanent home.\u00a0<\/p>\n

\u201cI say to everybody, \u2018Move to California, don\u2019t leave.\u2019 It\u2019s the highest taxes in the world, but it\u2019s okay,\u201d Huang said at the Stanford Graduate School of Business earlier this year.\u00a0<\/p>\n

Aside from having great weather, California is also a hotbed for innovation, Huang has reasoned. Nvidia\u2019s office is located in Santa Clara, right in the heart of Silicon Valley where \u201cthe talent pool is,\u201d Huang has said. He argues that it\u2019s a choice to set up shop in the tech hub\u2014and whatever taxes come with operating there, \u201cso be it.\u201d<\/p>\n

However, Huang isn\u2019t sold on being taxed for everything. While he has no issue with Prop 40, he is skeptical that company robots and AI tokens should be taxed. Microsoft cofounder Bill Gates championed the idea; the tech mogul argued that by not taxing those tools, but still forking over payroll taxes on employee earnings, employers are incentivized to replace humans with machines. In response, Huang said his \u201cremedies will be a little different.\u201d<\/p>\n

\u201cI\u2019m in favor of taxes,\u201d Huang said in an interview with Fox Business\u2019s The Claman Countdown <\/em>earlier this year. <\/em>\u201cAnd I think that\u2026for anybody who is productive, it\u2019s a great way for us to contribute back to society and the economy. But the fact of the matter is, there are probably lots of different ways to approach this.\u201d<\/p>\n<\/div>\n