Nvidia CEO’s foundation must give away $120 million after stock surge

Nvidia’s stock surge could require the Jen-Hsun & Lori Huang Foundation to give away at least $120 million this year.

Transcript

00:00NVIDIA's stock surge doesn't just mean money coming in, millions are going to have

00:04to be given away.

00:05The IRS requires that private foundations give away at least 5% of their assets annually,

00:10and the philanthropy founded by CEO Jensen Wang and his wife Lori Wang will have to give

00:15away at least $120 million this year.

00:18Why?

00:19Well, most of the Jensen and Lori Wang's foundation assets consist of NVIDIA shares,

00:24and those shares have more than tripled to $3.4 billion since the end of 2023, according

00:29to a newly released tax filing.

00:31The foundation gave away $59.7 million last year, down from $66.3 million in 2022, and

00:39they may have to give more in 2025 since NVIDIA's stock has climbed nearly 200% this year.