Nvidia CEO Jensen Huang is "completely fine" with the prospect of paying a one-time 5% wealth tax, a proposal currently under consideration in California, where he resides. With an estimated fortune of 157 billion USD, according to Bloomberg, Huang could face a tax bill of 7.85 billion USD.

"Honestly, I haven't even thought about it", the 62-year-old billionaire stated during a 6/1 interview with Bloomberg Television when asked about the proposal. He affirmed, "We choose to live in Silicon Valley. They can impose whatever taxes they want. I am completely fine with that."

Jensen Huang, Nvidia CEO, at Computex 2024 exhibition in Taiwan in 6/2024. *Photo: Khuong Nha*

A healthcare workers' union introduced the wealth tax initiative for billionaires in 11/2025, garnering support from numerous legislators. The proposal suggests a 5% tax on the total assets of individuals owning over 1.1 billion USD and residing in California as of early 2026. The new revenue aims to bolster the state's healthcare, education, and food assistance budgets, which currently face significant shortfalls after spending cuts.

For the initiative to proceed, it requires over 870,000 signatures to be placed on the ballot in November this year. If approved, billionaires residing in California would be taxed on all valuable assets, including stocks and businesses they own, regardless of whether they leave the state in 2026. Real estate would be exempt from this tax, as residents already pay property taxes. Under the proposal, billionaires would have the option to pay their tax liability over 5 years.

Supporters estimate that this tax could generate approximately 100 billion USD for the state budget from its 200 wealthiest residents, including Nvidia CEO Jensen Huang. Forbes estimates that most of Huang's wealth comes from holding about a 3% stake in Nvidia, a chipmaker currently valued at over 4.6 trillion USD.

Huang views Nvidia's headquarters in Santa Clara, California, as a significant advantage. He explained, "We operate in Silicon Valley because it is where the talent pool is." According to Huang, the ability to recruit qualified personnel is often the most critical factor when a company decides on its location. He concluded, "Where there is talent, we will set up our office there."

Ha Thu (via CNBC)