Nvidia's Jensen Huang caught on the wrong foot? Report says the 10th richest man is using legal loopholes to allegedly avoid $8 billion in taxes

economictimes.indiatimes.com:

Jensen Huang is undoubtedly one of the most talked about figures in the world of business as of now, owing to his company Nvidia's stellar rise in terms of market capitalization, demand and popularity, all at the same time. Nvidia under the leadership of Huang has attained a peak market capitalization, and had at one point, crossed Apple's market cap. Meanwhile, Huang is facing a few problems of his own, after having landed in a major controversy surrounding tax evasion allegations against him.

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Is Nvidia CEO evading taxes?

Reports suggest that Huang has been evading nearly $8 billion in taxes using various legal tax strategies, which has now triggered a major controversy about how the ultra-rich abuse their legal expertise in evading the taxes they are supposed to pay to the government, while the middle-class bear the brunt of it all.

How much has Huang saved by alleged tax evasion?

From federal estate to gift taxes, Huang saved billions by using some major tricks and loopholes up his sleeve in order to not pay $8 billion, says an NYT report. A major amount of evasion also happened through an irrevocable trust Huang and his wife set up back in the year 2012, as per NYT, where they transferred Nvidia shares worth $7 million, which then increased in value to nearly $3 billion.

This means that this massive surge cannot be