Billionaire Exodus Led by Peter Thiel Grows as California Wealth Tax Looms
Bloomberg.com••general
Key Points:
- At least six billionaires left California before the new year, prompted by a proposed 5% wealth tax in the state.
- Financial advisers indicate that more than a dozen additional billionaires may follow suit due to the new tax legislation.
- David Lesperance, a specialist in relocation, personally assisted four billionaires in leaving California before the January 1 residency deadline.
- Notably, billionaires Peter Thiel and David Sacks publicly announced moves to Florida and Texas, respectively, on New Year’s Eve.
