On June 6, the New York Times broke the big news: Nvidia CEO Jensen Huang, a U.S. super-rich billionaire with a net worth of $127 billion, cleverly used loopholes in federal estate and gift taxes to evade taxes, potentially amounting to $8 billion.

According to common logic, after Jensen Huang's death, an estate tax of 40% would be due. However, securities and tax documents reveal that he employed complex strategies to transfer most of his wealth tax-free, making this a typical case of tax avoidance in the U.S. that has attracted significant attention.

In fact, Jensen Huang is not an isolated case; such tax avoidance tactics are quite common among the super-rich. The New York Times analysis shows that executives from Blackstone's Stephen Schwarzman, Meta's Mark Zuckerberg, and Google have all transferred large sums of money into financial instruments to avoid estate taxes.

New York University tax law professor Daniel estimates that U.S. billionaires avoid paying estate taxes on approximately $200 billion in inherited wealth each year through strategies like trusts. Weak enforcement has also fueled this trend; due to budget cuts, the IRS's estate tax return audit rate plummeted from over 20% in the 1990s to about 3% in 2020.

It is worth mentioning that Jensen Huang is a major shareholder of Nvidia, holding about 3.5% of the circulating shares. From June to September, he sold nearly 5.3 million shares according to his trading plan, cashing out approximately $633 million, and plans to sell up to 6 million more shares by March 31, 2025.

As for the reason for the sell-off, former executives speculate it may be for tax payment, daily expenses, or purchasing real estate, given that cash compensation is limited, and the amount sold is insignificant compared to his holdings.

Nvidia's documents also disclose that Jensen Huang's total compensation is about $34.17 million. Compensation packages for executives at large tech companies are notoriously complex; Zuckerberg's salary is just $1, Cook’s includes performance stock, and Pichai has significant stock awards, each different.

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