Billionaires are becoming an even rarer species in California. A proposed one-time 5% tax on their wealth has led several of the state’s wealthiest residents, including Meta CEO Mark Zuckerberg and Google co-founders, Larry Page and Sergey Brin, to flee to Nevada and Florida. But Nvidia CEO Jensen Huang is doubling down on his commitment to the Golden State.
“I say to everybody, ‘Move to California, don’t leave.’ It’s the highest taxes in the world, but it’s okay,” Huang said in conversation with Congressman Ro Khanna (D-CA) at the Stanford Graduate School of Business last week. He added that the great weather is a bonus. Of course, Huang wasn’t talking to just anyone, but one of the chief exponents of the wealth tax, nationwide and in California.
