California's Billionaire Tax Sparks Exodus of Tech Giants
TL;DR Summary
California's proposed Billionaire Tax Act aims to impose a 5% one-time tax on billionaires residing in the state, prompting some of the wealthiest to consider relocating to avoid the tax, raising concerns about potential impacts on California's economy and public services.
- Commentary: California made them rich. Now billionaires flee when the state asks for a little something back. Los Angeles Times
- Google Co-Founders Sergey Brin and Larry Page Reduce Ties to California The New York Times
- See the list of California's 200-plus billionaires who could be hit by the proposed wealth tax Business Insider
- Nvidia CEO Says He Doesn’t Care About California’s Proposed Billionaire Tax The Wall Street Journal
- Tech titans divided over whether to pay billionaire tax or flee California The Guardian
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