Inside The Billionaire Tax Plan That Has Rich Californians Ready To Move

Why billionaire tax would backfire and haunt California

California is home to more billionaires than any other state, and they already shoulder a disproportionate share of the state tax burden. Yet California is considering a ballot initiative based on the familiar fantasy that the state’s fiscal problems and policy ambitions can be solved by further taxing the rich. The proposed 2026 ballot initiative would go further than anything previously attempted, imposing a one-time wealth tax on California r…

Who’s leaving, who’s staying: The SF Standard’s billionaire tax tracker

With a 5% wealth tax looming, California’s billionaires are moving LLCs, buying Florida homes, and betting the measure fails.

Tax fight puts California on collision course as billionaires leave for red states

Migration data reveals traditionally blue states losing billions in adjusted gross income as tech billionaires relocate to lower-tax states like Texas and Florida.

Inside The Billionaire Tax Plan That Has Rich Californians Ready To Move

The proposal, which could be put to state voters in November, is a novel bid to extract more from the state’s ultra-wealthy, who some claim aren’t paying their fair share.