If you’ve been following the billionaire exodus from California with some confusion, here’s what’s actually driving the nervousness: it’s not the 5% rate. As highlighted Friday in the New York Post, the proposed wealth tax would hit founders on their voting shares rather than the actual equity they own. Take Larry Page, who about 3% […]
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Why Silicon Valley is really talking about fleeing California (it’s not the 5%)
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January 17, 2026
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