yahoo news | Nvidia Chief Jensen Huang Says People Should ‘Move To California’ As Billionaire...
Jensen Huang, the chief executive of Nvidia, urged people to “move to California” during a Stanford University event, despite the state’s high tax rates and a proposed billionaire tax. Huang, speaking alongside Rep. Ro Khanna, highlighted California’s attractive weather and talent pool, saying the high taxes are “okay” and emphasizing his confidence that the state remains a good place for business and innovation. He reiterated his support for the state even as the California Billionaire Tax Act, which would impose a 5% levy on individuals with assets over $1 billion, moves toward a possible November ballot.
The proposed tax is intended to fund California’s struggling health‑care program, but it has drawn criticism from several high‑net‑worth individuals who have recently relocated or distanced themselves from the state. Notable examples include Google co‑founders Sergey Brin and Larry Page, who transferred several limited‑liability companies to Nevada, and Oracle co‑founder Larry Ellison, who sold his San Francisco mansion and now resides in Florida. Forbes estimates Brin and Page’s net worths at roughly $240 billion and $261 billion respectively, while Ellison’s wealth stands at about $180 billion.
Forbes values Huang’s net worth at $163.2 billion, making him the world’s seventh‑richest person. Unlike many of his peers, Huang has not aligned publicly with any political party and has expressed little concern about the billionaire tax, describing himself as “perfectly fine” with it. He contrasted his stance with other tech billionaires such as David Sacks and Chamath Palihapitiya, who have voiced opposition to the tax, and emphasized that Nvidia remains in Silicon Valley because of the region’s unmatched talent and its role in building the future of AI.








