Nvidia CEO Jensen Huang Under Fire for Alleged $8 Billion Tax Evasion

Jensen Huang, the CEO of Nvidia and one of the most influential figures in tech, is now facing serious tax evasion allegations. Despite Nvidia’s remarkable success under his leadership, reports claim that Huang may have exploited legal loopholes to avoid paying nearly $8 billion in taxes.

Is Jensen Huang Evading Taxes?

Huang’s business acumen has made him a prominent figure in the tech world, with Nvidia rising to new heights in terms of market capitalization and demand. However, amidst this success, allegations of tax evasion have surfaced, pointing to strategies that allegedly allowed him to save billions. The controversy sheds light on how the ultra-wealthy might use legal tactics to avoid paying taxes while ordinary citizens bear the brunt.

How Huang Allegedly Saved $8 Billion in Taxes

According to a New York Times report, Huang used multiple tax-saving strategies, including federal estate and gift taxes, to legally sidestep billions in taxes. A major part of his tax avoidance involved an irrevocable trust he and his wife set up in 2012. They transferred Nvidia shares worth $7 million into the trust, which later grew to nearly $3 billion. This growth was not traced back to Huang or his family, thanks to the trust structure.

The use of these strategies has sparked a debate about whether the rich are unfairly benefiting from the legal system while evading their fair share of taxes.

Nvidia’s Growth Amidst the Controversy

Despite these allegations, Nvidia’s performance remains strong. In 2024, the company’s stock surged by an impressive 193%, fueled by its pivot to AI-driven GPUs. This has cemented Nvidia as a market leader, with its stock continuing to rise at an extraordinary pace.

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