"Peter Thiel has explored spending more time outside California and opening an office for his Los Angeles-based personal investment firm, Thiel Capital, in another state."
"Meanwhile, Google cofounder Larry Page has discussed leaving the state by year's end, sources told the Times, while three limited liability companies associated with him have filed documents to incorporate in Florida."
"All that will be left behind is the middle class. The tax burden, then, will fall to the middle class because after the 'richest' choose to leave, the middle class are both (a) the only ones left and (b) are the largest source of state income to extract taxes from."
Peter Thiel has explored spending more time outside California and opening an office for his Los Angeles-based personal investment firm, Thiel Capital, in another state. Larry Page has discussed leaving the state by year's end, and three limited liability companies associated with him have filed documents to incorporate in Florida. Chamath Palihapitiya warned that a proposed California wealth tax would prompt an exodus of wealthy entrepreneurs and ultimately shift the tax burden to the middle class. Backers must gather enough signatures before the measure can qualify for the November 2026 ballot. The proposal would impose a one-time 5% tax on assets of California residents worth more than $1 billion. Bloomberg Billionaires Index lists Page at about $270 billion and Thiel at about $27.2 billion.
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