Nvidia CEO Jensen Huang Backs Proposed California Billionaire Tax Despite Wealth Flight

Nvidia CEO Jensen Huang affirmed he is prepared to pay an estimated $8 billion over five years under California's proposed one-time 5% billionaire wealth tax, calling it a privilege and civic responsibility. Huang's support contrasts with departures by other tech figures ahead of the November 3, 2026 ballot vote. The measure targets residents with net worths exceeding $1 billion, potentially affecting 200 to 260 individuals. While a Hoover Institution study noted nearly 30% of California's billionaire wealth departed, lowering projected revenues from $100 billion to $40 billion, other projections estimate over $108 billion in potential state revenue.