By Mohd Haider
Publication Date: 2026-04-14 00:31:00
Jensen Huang, CEO of Nvidia Corp., urged people to move to California despite the state’s high taxes on Thursday, a stance that contrasts with the recent exodus of billionaires from the state.
“I say to everybody, ‘Move to California. Don’t leave. It’s the highest taxes in the world, but it’s OK,’” Huang said at Stanford Graduate School of Business alongside Rep. Ro Khanna (D-Calif.).
“The weather is great,” Huang added.
Don’t Miss:
Huang’s remarks put him at odds with a growing wave of ultra-high-net-worth individuals leaving California and signal that the state’s most prominent tech leaders remain divided over whether its tax climate poses an existential threat to Silicon Valley’s dominance—a debate with significant implications for innovation, capital formation, and the broader U.S. technology sector.
Comments from one of the world’s 10th-richest people come at a time when several high-profile billionaires, including tech executives, have been leaving California due to proposed wealth taxes and other financial considerations.
A proposed ballot measure called the 2026 Billionaire Tax Act would place a one-time 5% tax on those with a net worth exceeding $1 billion and impose a one-time $1 billion tax on those with at least $20 billion in assets as of Jan. 1, targeting about 200 billionaires living in the state.
Supporters say it could generate around $100 billion to help address funding shortfalls in health care and…