Peter Thiel and Larry Page Consider Leaving California Over Proposed Billionaire Tax
Published:Dec 27, 2025 11:40
•1 min read
•Techmeme
Analysis
This article highlights the potential impact of proposed tax policies on high-net-worth individuals and the broader economic landscape of California. The threat of departure by prominent figures like Thiel and Page underscores the sensitivity of capital to tax burdens. The article raises questions about the balance between revenue generation and economic competitiveness, and whether such a tax could lead to an exodus of wealth and talent from the state. The opposition from Governor Newsom suggests internal divisions on the policy's merits and potential consequences. The uncertainty surrounding the ballot measure adds further complexity to the situation, leaving the future of these individuals and the state's tax policy in flux.
Key Takeaways
- •Proposed tax on billionaires in California could lead to their departure.
- •Governor Newsom opposes the tax, indicating internal political divisions.
- •The ballot measure's future is uncertain, creating instability.
Reference
“It's uncertain whether the proposal will reach the statewide ballot in November, but some billionaires like Peter Thiel and Larry Page may be unwilling to take the risk.”