Nvidia CEO Jensen Huang Could Owe $8B Under California's 5% Billionaire Tax — But Says 'I Haven't Thought About It Even Once'

Core Insights - A proposed wealth tax in California could lead billionaires to reconsider their residency and companies to rethink their operational locations [1][2] - Nvidia CEO Jensen Huang stated he has not considered the tax, despite its potential cost of nearly $8 billion, emphasizing the importance of Silicon Valley's talent pool [1] - The "2026 Billionaire Tax Act" proposes a one-time 5% tax on California residents with net worths above $1 billion, potentially affecting around 200 billionaires and generating significant revenue [2] Talent and Location Decisions - Venture capitalist Peter Thiel is contemplating spending more time outside California and possibly opening an office elsewhere [3] - Google co-founder Larry Page is also considering leaving California by the end of the year, according to sources [3] - Nvidia executives, including CFO Colette Kress and EVP Jay Puri, would be impacted by the tax, as they recently crossed the $1 billion net worth threshold due to stock performance [4] Industrial AI and Manufacturing Context - Siemens CEO Roland Busch highlighted that AI is already being integrated into manufacturing processes, utilizing digital twins and simulation tools for system design and testing [5]