California’s Billionaire Tax Sparks Residency Shifts: A Live Tracker
The SF Standard’s tracker follows California’s proposed 5% net-worth tax on billionaires, which could raise about $100 billion for state healthcare if voters approve. Organizers must gather signatures and win a statewide vote, but some ultra-wealthy residents are already shifting assets or residency to Florida, Texas, or Nevada as residency rules and audits complicate exits. The tracker highlights figures like Sergei Brin, Larry Page, Larry Ellison, Reid Hoffman, Jensen Huang, Palmer Luckey, Michael Moritz, and Peter Thiel reacting in varied ways, illustrating potential impacts on wealth movement and innovation.
