"Nvidia CEO Jensen Huang stated, 'I say to everybody, 'Move to California, don't leave.' It's the highest taxes in the world, but it's okay.' He emphasized the state's great weather as an additional benefit."
"Congressman Ro Khanna and Senator Bernie Sanders introduced the 'Make Billionaires Pay Their Fair Share Act,' proposing a 5% annual wealth tax on over 1,000 U.S.-based billionaires."
"Khanna's tweet about billionaires leaving California ignited a backlash, with venture capitalist Ethan Agarwal challenging him and former Google chairman Eric Schmidt supporting a super PAC against the wealth tax."
A proposed 5% wealth tax in California is prompting billionaires like Mark Zuckerberg and Google co-founders to relocate to states with lower taxes. In contrast, Nvidia CEO Jensen Huang encourages staying in California, citing its benefits despite high taxes. Congressman Ro Khanna and Senator Bernie Sanders introduced a bill for a nationwide wealth tax. Khanna's comments on billionaires leaving sparked backlash from tech leaders and investors, leading to political challenges and opposition to the tax from influential figures, including Governor Gavin Newsom.
Read at Fortune
Unable to calculate read time
Collection
[
|
...
]