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Jensen Huang publicly defended California’s high-tax environment and urged tech leaders to remain in the state instead of relocating to lower-tax regions.

His comments come as lawmakers push new legislation targeting America’s wealthiest individuals.

The proposed “Make Billionaires Pay Their Fair Share Act,” introduced by Ro Khanna and Senator Bernie Sanders, would impose a 5% annual wealth tax on more than 1,000 billionaires across the United States.

For Huang, whose net worth is estimated at roughly $167 billion, the bill could reportedly cost him nearly $8 billion per year. Despite that, the Nvidia CEO appeared largely unfazed.

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Media: Milken Institute