California voters will decide on November 3, 2026, a proposed one-time 5% wealth tax on billionaires with net worth over $1 billion. While billionaires like Larry Page, Sergey Brin, and Peter Thiel moved out of California to avoid the tax, Nvidia CEO Jensen Huang publicly accepted a potential $8 billion tax bill, calling it a privilege and responsibility. The tax targets roughly 200-250 billionaires and could raise about $40 billion after accounting for departures. The measure's outcome will impact California's billionaire population and state revenue significantly.
Nvidia shares trade at USD 227.38 on Pluang as of September 22, 2026, showing a 2.30% gain in the last day. The stock's market cap stands at $5.37 trillion, reflecting strong investor interest despite the CEO's potential $8 billion tax bill. Trading volume is high at 190,287,428 shares, indicating active market participation around Nvidia's leadership stance on California's billionaire tax.
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