The effects of a variety of monatomic cations (H+, Li+, Na+, K+, Mg2+, and Ca2+) and larger cations (decamethylcobaltocenium and tetrabutylammonium) on the reduction of colloidal ZnO nanocrystals (NCs) are described. Suspensions of "TOPO"-capped ZnO NCs in toluene/THF were treated with controlled amounts of one-electron reductants (CoCp*(2) or sodium benzophenone anion radical) and cations. Equilibria were quickly established and the extent of NC reduction was quantified via observation of the characteristic near-IR absorbance of conduction band electrons. Addition of excess reductant with or without added cations led to a maximum average number of electrons per ZnO NC, which was dependent on the NC volume and on the nature of the cation. Electrons are transferred to the ZnO NCs in a stoichiometric way, roughly one electron per monovalent cation and roughly two electrons per divalent cation. This shows that cations are charge-balancing the added electrons in ZnO NCs. Overall, our experiments provide insight into the thermodynamics of charge storage and relate the colloidal chemistry of ZnO with bulk oxide semiconductors. They indicate that the apparent band energies of colloidal ZnO are highly dependent on cation/electrolyte composition and concentration, as is known for bulk interfaces, and that electrons and cations are added stoichiometrically to balance charge, similar to the behavior of Li+-batteries.