Nvidia CEO Jensen Huang says he’s ‘perfectly fine’ paying $8B in taxes under California’s proposed billionaire wealth tax

While most billionaires hear the words “wealth tax” and start shopping for real estate in Texas, Jensen Huang is apparently fine where he is. The Nvidia CEO said he could owe roughly $8 billion under California’s proposed one-time levy on the ultra-wealthy, and his response was essentially a shrug. “I’m perfectly fine with it,” Huang told Bloomberg Television in January 2026, referring to the 2026 Billionaire Tax Act that would impose a 5% wealth tax on California residents with net worths exceeding $1 billion. What the billionaire tax actually looks like The math is straightforward. Huang’s estimated net worth sits between $155 billion and $165 billion, driven largely by his roughly 3% stake in Nvidia. A 5% cut of that fortune works out to approximately $8 billion, payable over five years. He’s not the only one who’d be writing a check. The initiative targets around 200 billionaires living in California and aims to raise roughly $100 billion in total. That money would be directed toward healthcare, education, and food assistance programs, areas that backers say are facing funding gaps partly caused by federal Medicaid cuts. The bill has some heavyweight political support. Rep. Ro ...