Nvidia CEO Jensen Huang is avoiding $8 billion in taxes

op trying to give the assassin new targets i see

Nvidia’s shares having soared over 800% since 2022, Huang and his wife Lori set up a financial vehicle known as an irrevocable trust and moved 584,000 Nvidia shares worth $7 million (at that time) into it.

This was an intentionally defective grantor trust which in the US, is nicknamed “I Dig It.” It circumvents estate tax, gift tax, and even capital gains tax.

Thus, the tax bill for those $7 million of shares now worth over $3 billion would be no more than a few hundred thousand dollars, rather than well over $1 billion without this setup, according to the report.

The Huangs also set up several vehicles in 2016 known as grantor retained annuity trusts, or GRATs in a move similar to the ex-wife of Walmart’s co-founder, Audrey Walton who transferred about $200 million worth of shares to two GRATs.

The trusts had to eventually repay Walton the value of those shares with some modest interest, but if the value of the shares went up over had to be repaid the trusts could keep whatever was left over tax free.

The Huangs put just over three million Nvidia shares worth about $100 million (At that time) into their four GRATs. They’re now worth over $15 billion, with the family poised to avoid about $6 billion in estate taxes, the report read.

Yet another technique was to use their Jen Hsun & Lori Huang Foundation by donating shares of Nvidia that were worth about $330 million at the time. These are tax-deductible.

Since foundations have to annually donate to charities at least 5% of their total assets, the Huangs gave 84% of the money to a donor-advised fund which they own that are not required to actually give any money to charitable organizations and can pass on the fund’s control to heirs without estate taxes, saving the family another $800 million, according to the report.

[Article ](https://www.nytimes.com/2024/12/05/business/nvidia-jensen-huang-estate-taxes.html)

Meh, Americans just voted for the no tax on the rich president.

Americans are mad because the rich elites are not paying enough taxes. They want to donate that tax money to the government, who then subsequently gives the rich elites even more money. Lmao

Billionaires are indirectly killing millions of people with this kind of wealth hoarding. Shame on them all. Nobody needs that much money.

I, too, have successfully avoided paying 8 billion in taxes.

OP just posting a pic without an article is just stupid.
You lose all credibility even if the source may be true

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I love these types of posts. A bunch of people getting pissed about a billionaire not paying taxes as if the government isn’t in trillion-dollar debt from reckless spending. Honestly, this guy could give that $8 billion to the IRS tomorrow, straight cash and it’ll disappear from vulture politicians before it reaches the bank. I wouldn’t want to pay taxes either. Shit, I don’t want to pay taxes now.

Don’t hate the player, hate the game.

If you want change, go after the laws that allow this practice. I would do the same thing to avoid that much in taxes, I don’t think anyone would chose not to.

Sue all these rat corporationsn bro, every company is doing this. And they can’t keep getting away with it, the average 9-5 worker already has a hard busy life and things like this makes affordability way worse. And 0iq Elon wants us to have more kids LOL, not in this economy kid

As always people, do research. Don’t bandwagon…

If i talk I’m in trouble.