{"id":17774,"date":"2024-12-05T09:02:14","date_gmt":"2024-12-05T10:02:14","guid":{"rendered":"https:\/\/medexperts.pro\/?p=17774"},"modified":"2024-12-05T10:24:20","modified_gmt":"2024-12-05T10:24:20","slug":"how-jensen-huang-ceo-of-nvidia-is-avoiding-billions-in-taxes","status":"publish","type":"post","link":"https:\/\/medexperts.pro\/?p=17774","title":{"rendered":"How Jensen Huang, CEO of Nvidia, Is Avoiding Billions in Taxes"},"content":{"rendered":"
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Jensen Huang, the chief executive of Nvidia<\/a>, is the 10th-richest person in the United States, worth $127 billion<\/a>. In theory, when he dies, his estate should pay 40 percent of his net worth to the government in taxes.<\/p>\n

But Mr. Huang, 61, is not only an engineering genius and Silicon Valley icon whose company, the world\u2019s second-most valuable, makes the chips that power much artificial intelligence<\/a>. He is also the beneficiary of a series of tax dodges that will enable him to pass on much of his fortune tax free, according to securities and tax filings reviewed by The New York Times.<\/p>\n

The savings for his family are on a pace to be roughly $8 billion. It likely ranks among the largest tax dodges in the United States.<\/p>\n

The types of strategies Mr. Huang has deployed to shield his wealth have become ubiquitous among the ultrawealthy. Blackstone Group\u2019s Stephen A. Schwarzman, Meta\u2019s Mark Zuckerberg and top executives at Google, Coinbase, Eli Lilly, Mastercard and Advanced Micro Devices have collectively shifted billions of dollars into financial vehicles in order to avoid the federal estate tax, according to a Times analysis of securities disclosures.<\/p>\n<\/div>\n<\/div>\n

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It is just one sign of how the estate tax \u2014 imposed solely on a sliver of the country\u2019s multimillionaires \u2014 has been eviscerated.<\/p>\n

Revenue from the tax has barely changed since 2000, even as the wealth of the richest Americans has roughly quadrupled<\/a>. If the estate tax had simply kept pace, it would have raised around $120 billion last year. Instead it brought in about a quarter of that.<\/p>\n<\/div>\n<\/div>\n

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Less Revenue, Fewer Audits<\/h2>\n

Revenue from the estate tax has barely changed, even as the wealth held by the richest Americans has exploded. One reason might be that the I.R.S. audits of estate-tax returns have declined to the lowest level in decades.<\/p>\n<\/header>\n

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\t<\/p>\n

\n
<\/div>\n
\n

0.7<\/p>\n<\/p><\/div>\n

\n

%<\/p>\n<\/p><\/div>\n

\n

Estate taxes paid as a share of<\/p>\n

the top 0.1 percent\u2019s wealth<\/p>\n<\/p><\/div>\n

\n

0.6<\/p>\n<\/p><\/div>\n

\n

0.5<\/p>\n<\/p><\/div>\n

\n

As part of tax cuts passed during the George W. Bush administration, the estate tax ceased to exist in 2010 before returning the following year.<\/p>\n<\/p><\/div>\n

\n

0.4<\/p>\n<\/p><\/div>\n

\n

0.3<\/p>\n<\/p><\/div>\n

\n

0.2<\/p>\n<\/p><\/div>\n

\n

0.1<\/p>\n<\/p><\/div>\n

\n

0.0<\/p>\n<\/p><\/div>\n

\n

\u201900<\/p>\n<\/p><\/div>\n

\n

\u201905<\/p>\n<\/p><\/div>\n

\n

\u201910<\/p>\n<\/p><\/div>\n

\n

\u201915<\/p>\n<\/p><\/div>\n

\n

\u201920<\/p>\n<\/p><\/div>\n

\n

15<\/p>\n<\/p><\/div>\n

\n

%<\/p>\n<\/p><\/div>\n

\n

12<\/p>\n<\/p><\/div>\n

\n

9<\/p>\n<\/p><\/div>\n

\n

6<\/p>\n<\/p><\/div>\n

\n

3<\/p>\n<\/p><\/div>\n

\n

Share of estate-tax returns<\/p>\n

filed that were audited<\/p>\n<\/p><\/div>\n

\n

0<\/p>\n<\/p><\/div>\n

\n

\u201900<\/p>\n<\/p><\/div>\n

\n

\u201905<\/p>\n<\/p><\/div>\n

\n

\u201910<\/p>\n<\/p><\/div>\n

\n

\u201915<\/p>\n<\/p><\/div>\n

\n

\u201920<\/p>\n<\/p><\/div>\n<\/p><\/div>\n

\t<\/p>\n

\n
<\/div>\n

\t\t<\/p>\n

\n

0.7<\/p>\n<\/p><\/div>\n

\n

%<\/p>\n<\/p><\/div>\n

\n

Estate taxes paid as a share of<\/p>\n

the top 0.1 percent\u2019s wealth<\/p>\n<\/p><\/div>\n

\n

0.6<\/p>\n<\/p><\/div>\n

\n

As part of tax cuts passed during the George W. Bush administration, the estate tax ceased to exist in 2010 before returning the following year.<\/p>\n<\/p><\/div>\n

\n

0.5<\/p>\n<\/p><\/div>\n

\n

0.4<\/p>\n<\/p><\/div>\n

\n

0.3<\/p>\n<\/p><\/div>\n

\n

0.2<\/p>\n<\/p><\/div>\n

\n

0.1<\/p>\n<\/p><\/div>\n

\n

0.0<\/p>\n<\/p><\/div>\n

\n

\u201900<\/p>\n<\/p><\/div>\n

\n

\u201905<\/p>\n<\/p><\/div>\n

\n

\u201910<\/p>\n<\/p><\/div>\n

\n

\u201915<\/p>\n<\/p><\/div>\n

\n

\u201920<\/p>\n<\/p><\/div>\n

\n

15<\/p>\n<\/p><\/div>\n

\n

%<\/p>\n<\/p><\/div>\n

\n

12<\/p>\n<\/p><\/div>\n

\n

9<\/p>\n<\/p><\/div>\n

\n

6<\/p>\n<\/p><\/div>\n

\n

3<\/p>\n<\/p><\/div>\n

\n

Share of estate-tax returns<\/p>\n

filed that were audited<\/p>\n<\/p><\/div>\n

\n

0<\/p>\n<\/p><\/div>\n

\n

\u201900<\/p>\n<\/p><\/div>\n

\n

\u201905<\/p>\n<\/p><\/div>\n

\n

\u201910<\/p>\n<\/p><\/div>\n

\n

\u201915<\/p>\n<\/p><\/div>\n

\n

\u201920<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n

\n<\/div>\n