Billionaires Consider Leaving California Over Proposed Wealth Tax

Tech billionaires Peter Thiel and Larry Page are considering leaving California due to a proposed billionaire wealth tax, which aims to tax assets over $1 billion at 5%, potentially raising $100 billion for healthcare. The move is part of a broader trend of high-profile entrepreneurs relocating to states with lower taxes, such as Texas, amid concerns about California's fiscal policies and regulatory environment. The tax proposal still needs to gather enough signatures to appear on the 2026 ballot, but it has sparked debate over its impact on innovation and the state's economy.