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479 California’s proposed wealth tax triggers billionaire exodus before voters even decide

Silicon Canals
James Brennan @ Silicon Canals 2 place · today 01:00 EDT

California’s proposed wealth tax triggers billionaire exodus before voters even decide

A proposed ballot measure in California has triggered an unprecedented exodus of billionaires from the state, even before voters have had their say. The 2026 Billionaire Tax Act, backed by the Service Employees International Union–United Healthcare Workers West, would impose a one-time 5% tax on California residents with net worth exceeding $1 billion. While proponents ... Read more

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