NVIDIA’s Huang Embraces California’s Billionaire Tax as Page, Brin, Thiel Move Away

California’s proposed one-time 5% wealth tax on net worth above $1B would be due in 2027 if approved, with residency determined by a January 1, 2026 snapshot. Nvidia CEO Jensen Huang says he would pay about $8B, while Larry Page, Sergey Brin and Peter Thiel reportedly relocated to avoid the tax. Hoover Institution research warns the measure could slash projected state revenue from around $100B to about $40B and credits Page/Brin with much of the loss; the initiative has not yet passed and faces debates over voting rights and other design details.