US EditionAndreessen Horowitz Co-Founder Warns California Wealth Tax Could Trigger Silicon Valley Exodus - Alphabet (NASDAQ:GOOG), Alphabet (NASDAQ:GOOGL)
California's proposed 5% wealth tax on billionaires has prompted asset shifts to Delaware by tech elites, including Google cofounders, ahead of a retroactive 2026 implementation.
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Andreessen Horowitz Co-Founder Warns California Wealth Tax Could Trigger Silicon Valley Exodus - Alphabet (NASDAQ:GOOG), Alphabet (NASDAQ:GOOGL)
Ben Horowitz, co-founder and General Partner of Andreessen Horowitz (a16z), said California’s proposed wealth tax represents the best strategy he’s seen to dismantle Silicon Valley’s network effect, citing Norway’s entrepreneur exodus as evidence. Norway Unrealized Capital Gains Tax Drives Exodus Speaking with John Coogan and Jordi Hays on a TBPN podcast released recently, Horowitz said Norway’s unrealized capital gains tax caused entrepreneurs …
California billionaires are feeling taxed about a new proposal
Google cofounded Sergey Brin and Larry Page attended the Vanity Fair Oscar Party in 2007. Billy Farrell/Patrick McMullan via Getty Images This post originally appeared in the BI Today newsletter. You can sign up for Business Insider's daily newsletter here. No more California dreaming California's…
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