California has long been home to dozens of entrepreneurs who built billion-dollar fortunes, but as the state weighs tax hikes aimed at the wealthy, some are packing up and leaving. Nvidia CEO and longtime California resident Jensen Huang, however, says he is glad to pay his fair share.

“I don’t mind paying taxes. The more you make, the more taxes you pay. I’m okay with that,” Huang said in a recent interview with CBS Sunday Morning. “I am the ultimate American Dream.”

A Statewide Fight Over Proposition 40

Billionaires including Google cofounder Sergey Brin and the company’s former CEO Eric Schmidt have been waging a campaign against California’s Proposition 40, a ballot measure that would impose a one-time 5% tax on residents with assets over $1 billion. The state expects the levy to raise tens of billions of dollars in temporary revenue spread across several years, earmarked for health care and education. The measure’s fate rests with California voters.

Some of California’s ultrarich are fighting back. Tech billionaires have raised more than $340 million and are spending more than $1 million per day on the campaign to defeat Prop 40, according to the Guardian. Others, including Palantir’s Peter Thiel and Meta’s Mark Zuckerberg, have already left the state for more tax-friendly areas.

Huang, the world’s ninth-richest person with an eye-watering $180 billion net worth, is not among those heading for the exits. The leader of the world’s largest chip company has reasoned that his success would not have been possible without the opportunities America afforded him: the chance to pursue a high-level education, build a new company, chase his dreams, and meet the people who “made Nvidia possible.” His is a success story millions dream of—and he is happy to give back to the same system that nurtured his ambitions.

“The fact that I can afford to pay $8 billion in taxes over five years is a privilege,” Huang continued. “I’m not afraid of paying taxes. I’m just afraid of being poor.”

Fortune reached out to Nvidia for comment.

Huang Urges the Rich to Stay Put

The “Make Billionaires Pay Their Fair Share Act” was introduced in March by Rep. Ro Khanna (D-Calif.) and Sen. Bernie Sanders (D-Vt.)—a piece of federal legislation separate from California’s Prop 40. Ahead of Prop 40’s Jan. 1, 2026, residency cutoff, a wave of billionaires fled the state. Google cofounders Larry Page and Brin moved their business entities to Florida and Nevada, and former Uber CEO Travis Kalanick changed his address to Austin. If voters approve the measure, residency as of that cutoff date would determine who owes the levy.

Huang, by contrast, has brushed aside any thought of relocating. “I haven’t thought about it even once,” he said.

Instead, he has been outspoken about the upsides of living in the Golden State and has called on others to make California their permanent home. “I say to everybody, ‘Move to California, don’t leave.’ It’s the highest taxes in the world, but it’s okay,” Huang said at the Stanford Graduate School of Business earlier this year.

Beyond the great weather, Huang has argued, California is a hotbed for innovation. Nvidia’s office sits in Santa Clara, in the heart of Silicon Valley, “where the talent pool is,” he has said. In his view, setting up shop in the tech hub is a choice—and whatever taxes come with operating there, “so be it.”

Huang does draw a line at some proposals, however. While he has no issue with Prop 40, he is skeptical that company robots and AI tokens should be taxed. Microsoft cofounder Bill Gates has championed the idea, arguing that leaving such tools untaxed while employers continue paying payroll taxes on human earnings incentivizes companies to replace people with machines. In response, Huang said his “remedies will be a little different.”

“I’m in favor of taxes,” Huang said in an interview with Fox Business’s The Claman Countdown earlier this year. “And I think that…for anybody who is productive, it’s a great way for us to contribute back to society and the economy. But the fact of the matter is, there are probably lots of different ways to approach this.”

This story was originally featured on Fortune.com.