Nvidia CEO Jensen Huang could face an estimated $8 billion tax bill if California voters approve Proposition 40 in November. The measure would impose a one-time 5% levy on covered wealth above its threshold for billionaires who were California residents on Jan. 1, 2026. The state’s official voter guide says payments would be due in 2027, with taxpayers allowed to spread them over five years at additional cost. Supporters say the tax could raise tens of billions of dollars, with 90% directed to healthcare and the remainder to education, food assistance and administration. Opponents warn that taxing wealth held in stocks and businesses could encourage residents to leave and reduce state income-tax collections. Huang has said California’s high taxes would not persuade him to move, even as Nvidia’s market value has climbed to roughly $5.6 trillion and expanded his stock-based wealth.