- Nvidia CEO Jensen Huang is asking tech CEOs to stay in California
- New legislation could tax high earners 5%
- Huang also calms fears that AI will take human jobs
Nvidia CEO Jensen Huang has urged his colleagues to stay in California despite recent proposals to raise taxes on the state’s wealthiest residents.
Speaking at the Stanford Graduate School of Business, Huang explained why the state was such a great place to live, noting, “I tell everybody, ‘Move to California, don’t leave.’ It’s the highest tax in the world, but that’s okay.”
This is despite recent legislation being proposed in the state that would heavily tax billionaires as part of much-requested laws to close the wealth gap in the United States.
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Pay up, Huang tells CEOs
Huang spoke with Democratic California Congressman Ro Khanna, who along with Sen. Bernie Sanders recently introduced the “Make Billionaires Pay Their Fair Share Act.”
This bill appears to establish a 5% annual wealth tax on the more than 1,000 American billionaires, including several tech CEOs, leading to an exodus in California. Among those who left were Meta CEO Mark Zuckerberg, who moved to Nevada, and Google co-founders Larry Page and Sergey Brin to Florida.
Huang was recently named the eighth richest person in the world, with Bloomberg estimating his net worth at around $167 billion. That means the new bill will cost him about $8 billion, but at least now it’s a price Huang seems willing to pay.
In January 2026, he told Bloomberg that he was “totally fine” with paying a tax on billionaires, noting: “I haven’t thought about it once…We work in Silicon Valley because that’s where the talent pool is. We have offices all over the world. Wherever there’s talent, we have an office.”
“We chose to live in Silicon Valley, and whatever taxes they wanted to impose, so be it.”
Huang and Khanna also talked about the role of AI taking jobs from humans, a theme the CEO has covered extensively in recent years.
“I think the narratives about AI destroying jobs will not help America,” Huang said. “First of all, it’s just false. Of course, the jobs of the past change with every technology and every passing day.”
“The purpose of your job and the tasks you perform in your job are related but not the same,” he added. “Using myself as an example, if they were the same, someone would observe that what Jensen really does for a living is writing and speaking. And writing and speaking have both been automated to a superhuman level by AI. And yet I’m busier than ever.”
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