California’s explosive socialist government has been driving productive working entreprenuers away for years. Remember Elon Musk fled California years ago.
Now California’s socialists are circulating a ballot petition to place a “one time” 5% “wealth tax on every billionaire. Signatures are being gathered for the petition drive now. If the ballot initiative passes, it will purport to be RETROACTIVE–meaning it will take 5% of the wealth of every billionaire in California as of January 1, 2026.
Several California billionaires have packed their bags and relocated to other states.
- Billionaire and Uber co-founder Travis Kalanick officially revealed he moved to Austin, Texas, just weeks before the proposed wealth tax could have targeted his estimated $3.6 billion fortune.
- Steven Spielberg moved to New York.
- Mark Zuckerberg (Meta/Facebook CEO) is rapidly buying Florida properties and making moves to avoid the tax.
- Larry Ellison (Oracle co-founder/CEO)
- David Sacks (venture capitalist, former PayPal/Yammer exec) fled to Texas.
- Larry Page (Google co-founder) relocated to Florida.
- Peter Thiel (venture capitalist, PayPal co-founder) has been openly discussing leaving California due to the anti-wealth climate.
- Sergey Brin (Google co-founder) — Mentioned alongside Page in some accounts of tech titans relocating or considering it.
