In six weeks, Californians will vote on whether the state should impose a 5% surtax on billionaires. It’s all part of California’s new brilliant income redistribution strategy of repelling rich people and attracting the homeless and welfare recipients.
But there are at least two high-profile billionaires in the state who support it: One is Tom Steyer, who took third in the state’s Democratic primary for governor earlier this year. The other is Jensen Huang, the CEO of Nvidia, whose net worth is estimated to be $185 billion. He has said he is “perfectly fine” with the proposal. If passed, it would reportedly cost him more than $7 billion.

But if Steyer and Huang are so “patriotic,” why don’t they simply donate what they would owe to the California state treasury?
![]()
There’s nothing stopping them from doing so, even if the initiative is defeated. While they’re at it, they could also contribute to the federal government and help balance the budget.
You may recall we famously asked the “patriotic millionaires” that question a few years ago and got no takers.

