Trending Now - Jensen Huang Supports High Taxes Amid California Billionaire Debate

WHO:

Fortune - Jensen Huang, CEO of Nvidia; Congressman Ro Khanna (D-CA); Sen. Bernie Sanders (D-VT); Meta CEO Mark Zuckerberg; Google co-founders Larry Page and Sergey Brin; venture capitalist Ethan Agarwal; former Google chairman Eric Schmidt; Democratic Governor Gavin Newsom; Anduril Industries founder Palmer Luckey.

WHAT:

Fortune - Jensen Huang stated, “Move to California, don’t leave. It’s the highest taxes in the world, but it’s okay.”

Fortune - A proposed one-time 5% tax on billionaires' wealth could cost Huang more than $8 billion.

NY Post - The proposed wealth tax could result in a loss of up to $4.5 billion annually for California.

Fortune - The tax's proponents need to gather about 875,000 valid signatures by June 25th, 2026, to qualify for the November 3rd, 2026, election.

WHERE:

Fortune - California; Stanford Graduate School of Business; Silicon Valley; Nevada; Florida.

WHEN:

Fortune - Huang made his comments during a conversation with Khanna last week (April 2026).

Fortune - The “Make Billionaires Pay Their Fair Share Act” was introduced in March 2026.

Fortune - The deadline to gather signatures for the tax initiative is June 25th, 2026.

Fortune - The election for the tax initiative is scheduled for November 3rd, 2026.

WHY:

Fortune - Huang supports remaining in California despite high taxes due to the talent pool available in Silicon Valley.

Fortune - The proposed wealth tax aims to ensure billionaires pay their fair share, as advocated by Khanna and Sanders.

HOW:

Fortune - Huang expressed that he is “perfectly fine” paying the billionaires tax and has not considered leaving California.

Fortune - Huang discussed the impact of AI on jobs, stating that while tasks may be automated, jobs can still grow, using radiologists as an example.

(UPDATED April 24, 2026 05:52 UTC)

In a recent conversation, Jensen Huang, CEO of Nvidia, emphasized the importance of staying in California despite its high taxes, stating, “Move to California, don’t leave,” as he expressed his willingness to pay a proposed one-time 5% tax on billionaires' wealth, which could cost him over $8 billion. This wealth tax, supported by Congressman Ro Khanna and Senator Bernie Sanders, aims to ensure billionaires contribute their fair share and requires about 875,000 valid signatures by June 25th, to qualify for the November 3rd election. Huang also discussed the impact of AI on jobs, noting that while some tasks may be automated, job growth can still occur, highlighting the ongoing relevance of skilled professionals in fields like radiology.