As billionaires fight a tax hike, Jensen Huang says paying $8 billion is a ‘privilege’: ‘I’m just afraid of being poor’
Source: Fortune ·
As billionaires flee the Golden State, the Nvidia cofounder says he’s happy to stay put and share the spoils of his success: “I am the ultimate American Dream.”
From the source
California is home to dozens of entrepreneurs who have made billions off their companies. But now, some are packing up and leaving as the coastal state weighs tax hikes against the rich—but Nvidia CEO and longtime California resident Jensen Huang is happy to pay his fair share. “I don’t mind paying taxes. The more you make, the more taxes you pay. I’m okay with that,” Huang said in a recent interview with CBS Sunday Morning. “I am the ultimate American Dream.” Billionaires like Google’s cofounder Sergey Brin and former CEO Eric Schmidt have been waging war against Proposition 40 in California: a one-time 5% tax on residents with assets over $1 billion. The state hopes this will increase temporary revenue by tens of billions spread over several years to fund healthcare and education. And some of California’s ultra-rich are fighting back; tech billionaires have raised more than $340 million and spend more than $1 million daily in a campaign to defeat Prop 40, according to The Guardian.…