Nvidia CEO doesn’t mind if he has to pay nearly 8 billion USD in taxes

The state of California – where Nvidia CEO Jensen Huang lives – is considering an initiative to impose a one-time 5% wealth tax on billionaires here. With a fortune of $157 billion, according to Bloomberg estimates, Huang may have to pay $7.85 billion in taxes. In an interview with Bloomberg Television on January 6, he said “it’s completely fine” if this happens.

“To be honest, I never even thought about it,” the 62-year-old billionaire said when asked if this proposal worried him. “We choose to live in Silicon Valley. They can impose whatever taxes they want. I’m completely fine with that,” he affirmed.

The initiative to impose a wealth tax on billionaires was launched by a union of medical workers in November 2025 and supported by many lawmakers. They propose imposing a 5% tax on the total assets of individuals owning more than $1.1 billion and residing in California as of early 2026. The new revenue will be allocated to the state’s health, education and food assistance budgets, which are facing large shortages after spending cuts.

However, this initiative needs to collect more than 870,000 signatures to be voted on in November this year. If passed, billionaires residing in California would be taxed on all valuable assets, including stocks or businesses they own, regardless of whether they leave the state in 2026 or not. Real estate will be excluded from tax calculation, because residents already have to pay real estate tax. According to the proposal, billionaires would be allowed to divide their tax payments over five years.

Supporters say this tax could help the state budget collect about $100 billion from the state’s 200 richest people, including Nvidia CEO Jensen Huang. Forbes It is estimated that most of Huang’s assets come from holding about 3% of Nvidia shares – a chip company currently valued at more than $4,600 billion.

Huang thinks Nvidia’s headquarters in Santa Clara, California is a big advantage. “We work in Silicon Valley because that’s where the human resources are,” he said. According to Huang, the ability to recruit qualified personnel is often the most important factor when a company decides where to have a presence. “Where there is talent, we will put an office there,” he concluded.