Nvidia Chief Jensen Huang Says People Should ‘Move To California’ As Billionaire Tax Looms

This story wad first published on Forbes.com

Topline

Billionaire Nvidia chief Jensen Huang encouraged people on Thursday to move to California despite the Golden State’s high tax rates, according to multiple reports, showing support for the state as a proposed billionaire tax has been blasted by some of the world’s wealthiest people, some of whom have pulled away from California in recent months.

Key Facts

Huang, who spoke at a Stanford event alongside Rep. Ro Khanna, D-Calif., said, “I say to everybody, ‘Move to California. Don’t leave. It’s the highest taxes in the world, but it’s okay.”

Huang, who said in January he “hadn’t thought about even once,” also complimented the Golden State’s weather.

The Nvidia chief has repeatedly backed California as a place to do business despite the state’s high taxes and a proposed wealth tax that could end up on ballots in November.

The California Billionaire Tax Act proposes a 5% tax on those in the state who make over $1 billion as a way to fund the state’s health care program, which is facing budget cuts that could put Californians at risk of losing coverage.

What Billionaires Have Recently Left Or Distanced Themselves From California?

Google co-founders Sergey Brin and Larry Page moved several limited liability companies out of California last year, according to The New York Times, which reported some of the companies were turned into Nevada entities. Forbes estimates Brin and Page’s net worths at $240.5 billion and $260.7B, respectively. Oracle co-founder Larry Ellison ($179.8 billion) sold his San Francisco mansion late last year for $45 million, the San Francisco Standard reported, noting the selling of the 11,000-square-foot home was the city’s biggest deal of 2025. Ellison’s official residence is now in Florida, costing him $173 million for a 16-acre, 60,000-square-foot property.

Forbes Valuation

We estimate Huang’s net worth at $163.2 billion, making him the seventh wealthiest person in the world behind Ellison. Huang has not contributed to or formally affiliated himself with Democrats or Republicans, though he donated an undisclosed amount of money to the construction of President Donald Trump’s $400 million White House ballroom last year.

Key Background

Huang told Bloomberg Television in January he was “perfectly fine” with California’s proposed tax on billionaires. Huang’s comment was a stark contrast to other billionaires like Trump’s AI czar David Sacks and venture capitalist Chamath Palihapitiya, the former of whom said in December that “Silicon Valley is finally realizing what time it is. Dinner time. And they’re on the menu.” Huang also told Bloomberg “we work in Silicon Valley because that’s where the talent pool is.” When told about billionaire reactions to the proposed tax in California, Huang suggested he was not all that concerned with it, adding, “This person’s trying to build the future of AI,” referring to himself.

Further Reading

Jensen Huang Says He’s ‘Perfectly Fine’ With California’s Billionaire Tax—Breaking With Other Tech Billionaires (Forbes)