The proposed billionaire tax has caussed $1 trillion in potential tax revenue to flee California. The billionaire tax would require California residents worth over $1 billion to pay a one-time 5% fee on all assets, including unrealized gains.
Google co-founder Larry Page fled the state and took his $276 billion net worth with him. Page moved his family office, Koop LLC, from California to Delaware and began purchasing property in Florida at the end of 2025. Oracle co-founder Larry Ellison, worth around $245 billion, sold his home in San Francisco in favor of Hawaii. Venture capitalist Peter Thiel cut ties with California, taking his $26…
Read the full article at ACTIVISTPOST.COM
