The Jen-Hsun and Lori Huang Foundation is a family foundation based in Palo Alto, California that was co-founded by Jen-Hsun (Jensen) Huang, a Taiwanese-American businessman and technology entrepreneur best known as the founder and chief executive officer of computer chip supplier Nvidia. The foundation was formed by Jensen and his wife Lori Huang in 2007 and owns 69 million shares of Nvidia stock. Nvidia’s rapid growth in value due to its role in the artificial intelligence (AI) industry led to the foundation’s asset value growing eight-fold since the end of 2022 to an estimated $8 billion as of mid-2024, making it the 20th-largest foundation in the United States according to Bloomberg News. ^{1 2}

Inside Philanthropy profiled the foundation as part of its coverage of Huang as one of several “black box billionaires” who used complex structures to conceal their philanthropic efforts. ³

Background

The Jen-Hsun and Lori Huang Foundation was founded in 2007 by Jensen Huang and his wife Lori. Jensen Huang is a Taiwanese-American businessman and technology entrepreneur best known as the founder and chief executive officer of Nvidia. According to Forbes, Huang’s net worth has skyrocketed, growing from $3 billion to over $100 billion in 2024, making him among the 15 richest people in the world. ⁴

The foundation is based in Palo Alto, California, and maintains a very low profile with little presence online or in the media. For most of the foundation’s history, it had under $50 million in assets, and mostly contributed to west coast universities, funding health and research programs. The foundation’s assets jumped from $42 million to $287 million in 2017. The foundation has also funded left-of-center advocacy collectives such as the Tides Center Depository. ^{5 6}

Assets and Giving

The Jen-Hsun and Lori Huang Foundation owns 69 million shares of Nvidia, and in line with the growth of the company’s stock price, the foundation’s asset value grew eight-fold from the end of 2022 through July 2024 to an estimated $8 billion, making it the 20th-largest foundation in the United States according to Bloomberg. ⁷

Huang was described by Inside Philanthropy as a “black box billionaire” meaning that he utilizes contributions from his foundation to donor-advised funds that receive the vast sum of his giving in the United States, circumventing traditional requirements for private foundations to disclose their grantees, as well as allowing the foundation to meet its annual legally required disbursements. ⁸

The Jen-Hsun and Lori Huang Foundation awards two-thirds of its giving to donor-advised funds. In addition, Huang and his wife control the GeForce Fund, a donor-advised fund (DAF) managed by DAFgiving360 (also known as Schwab Charitable). According to Bloomberg, DAFgiving360’s aggregated holdings include $4.4 billion in NVIDIA stock, “at least some of which” is held in DAFs controlled by the Huangs and their foundation. ⁹

A statement from the foundation noted that “The Huang Foundation supports higher education, public health, and STEM initiatives across the U.S., alongside local community organizations in the San Francisco Bay Area.” ¹⁰

1. “NVIDIA CEO’s $8 billion foundation awards two-thirds of giving to DAFs.” Philanthropy News Digest. July 4, 2024. Accessed July 28, 2024. https://philanthropynewsdigest.org/news/nvidia-ceo-s-8-billion-foundation-awards-two-thirds-of-giving-to-dafs
2. “Time 100 AI: Jensen Huang CEO, President and Co-Founder, Nvidia.” Time. September 7, 2023. Accessed July 28, 2024.  https://time.com/collection/time100-ai/6310609/jensen-huang-ai/
3. Kavate, Michael. “Meet the Black Box Billionaires: Are These America’s Most Secretive Megadonors?” Inside Philanthropy. July 10, 2024. Accessed July 27, 2024. https://www.insidephilanthropy.com/home/2024/7/10/meet-the-black-box-billionaires-are-these-americas-most-secretive-mega-donors
4. “Time 100 AI: Jensen Huang CEO, President and Co-Founder, Nvidia.” Time. September 7, 2023. Accessed July 28, 2024.  https://time.com/collection/time100-ai/6310609/jensen-huang-ai/
5. Return of Organization Exempt from Income Tax. Jen-Hsun & Lori Huang Foundation. 2018.  https://projects.propublica.org/nonprofits/organizations/261551239/201902349349100955/full
6. “NVIDIA CEO’s $8 billion foundation awards two-thirds of giving to DAFs.” Philanthropy News Digest. July 4, 2024. Accessed July 28, 2024. https://philanthropynewsdigest.org/news/nvidia-ceo-s-8-billion-foundation-awards-two-thirds-of-giving-to-dafs
7. “NVIDIA CEO’s $8 billion foundation awards two-thirds of giving to DAFs.” Philanthropy News Digest. July 4, 2024. Accessed July 28, 2024. https://philanthropynewsdigest.org/news/nvidia-ceo-s-8-billion-foundation-awards-two-thirds-of-giving-to-dafs
8. Kavate, Michael. “Meet the Black Box Billionaires: Are These America’s Most Secretive Megadonors?” Inside Philanthropy. July 10, 2024. Accessed July 27, 2024. https://www.insidephilanthropy.com/home/2024/7/10/meet-the-black-box-billionaires-are-these-americas-most-secretive-mega-donors
9. “NVIDIA CEO’s $8 billion foundation awards two-thirds of giving to DAFs.” Philanthropy News Digest. July 4, 2024. Accessed July 28, 2024. https://philanthropynewsdigest.org/news/nvidia-ceo-s-8-billion-foundation-awards-two-thirds-of-giving-to-dafs
10. Kavate, Michael. “Meet the Black Box Billionaires: Are These America’s Most Secretive Megadonors?” Inside Philanthropy. July 10, 2024. Accessed July 27, 2024. https://www.insidephilanthropy.com/home/2024/7/10/meet-the-black-box-billionaires-are-these-americas-most-secretive-mega-donors