Billionaire Uber co-founder Travis Kalanick admits strategically moving to Texas before California wealth tax

Core Insights - Travis Kalanick, billionaire and co-founder of Uber, has relocated to Austin, Texas, just before a proposed wealth tax in California could have impacted his estimated $3.6 billion fortune [1][2] - The proposed tax, backed by the SEIU-UHW, would impose a one-time 5% tax on the net worth of California residents with over $1 billion, due in 2027, with Kalanick potentially facing a tax liability of around $180 million [3][4] Group 1: Relocation and Tax Implications - Kalanick moved to Texas on December 18, 2022, just 14 days before the retroactive residency deadline for the proposed billionaire tax [2][4] - The tax proposal would affect anyone who was a California resident on January 1, 2026, making Kalanick's timing significant [4] Group 2: Industry Trends - Kalanick's move is part of a broader trend of California billionaires relocating to Texas, including notable figures like Elon Musk and Joe Lonsdale [4] - Florida is also attracting California's elite, with high-profile individuals such as Jeff Bezos and Mark Zuckerberg making similar moves [5] Group 3: New Ventures - Kalanick is using his relocation to launch a new venture called Atoms, which focuses on industrial robotics and artificial intelligence, marking a shift from his previous experiences at Uber [5][6] - He expressed a desire to move away from "perception politics," which he felt had influenced his departure from Uber in 2017 [6]