RT Brad Stone (@BradStone)It's time to fix how we tax the super-wealthy. But the proposed California billionaire tax is the wrong way to do it.My piece for @BW:https://t.co/OJlZfgf8UD ...

Core Insights - Florida is becoming a tax haven for tech and crypto wealth as California's elites consider relocating due to tax concerns [2][5] - High-profile relocations include Meta CEO Mark Zuckerberg and his wife, who are purchasing a mansion in Miami [3][4] Group 1: Tax Implications - California's proposed billionaire tax has led to a significant decrease in the state's taxable wealth from billionaires, dropping from over $2 trillion to under $1 trillion [5] Group 2: Real Estate Trends - The listing of a Miami mansion for 700 BTC illustrates the intersection of Bitcoin wealth and luxury real estate [2] - The gated community in Miami's Indian Creek neighborhood is attracting other high-profile figures, indicating a trend of wealthy individuals moving to Florida [3]

Core Insights - Google co-founder Sergey Brin has made significant investments in ultra-luxury real estate, acquiring two estates for nearly $92 million, including a $42 million mansion in Lake Tahoe and a $49.7 million estate in Malibu [1][3] Group 1: Real Estate Acquisitions - Brin's recent purchases include a waterfront mansion in Lake Tahoe, known as Crystal Pointe, which closed for $42 million [1] - The Malibu estate, purchased for $49.7 million, was acquired shortly before the proposed California wealth tax took effect [3] - The Malibu property was originally listed for $65 million, indicating a closing price discount of $15 million [6] Group 2: Tax Implications and Strategy - The timing of Brin's acquisitions aligns with California's new fiscal policies targeting wealthy residents, specifically the proposed Billionaire Tax Act [2][3] - Brin is maintaining a presence in California while transferring business interests to Nevada, potentially shielding his wealth from California's tax reach [4][5] - The move to Nevada allows Brin to establish primary residency in a tax-friendly state while still holding properties in California [5]

The proposal has yet to make it onto the ballot. Yet in a matter of weeks the mere possibility of a billionaire tax has rattled business and politics in America’s biggest state https://t.co/wBVWBNF8agPhoto: Getty Images https://t.co/fn6qhs7OyW ...

Tech industry and labor leaders plan to meet next month as Representative Ro Khanna pushes for a compromise deal over a proposed billionaire tax that has rattled Silicon Valley, a person familiar with the meeting said. https://t.co/KTzN99okyP ...

A proposed billionaire tax has some of the richest Californians eyeing the exits. First they’ll have to contend with the state’s dogged tax collectors. https://t.co/NWjoJwUn9f ...

Venture capitalist Chamath Palihapitiya said billionaires should publicly oppose California's proposed Billionaire Tax Act, warning that the measure could unleash years of lawsuits, destabilize the state budget and ultimately force a federal bailout. Palihapitiya Pushes For Public Vote On Billionaire Tax Act On Saturday, Palihapitiya made the remarks in a post on X while responding to tech investor and political strategist Lulu Cheng Meservey, who argued that billionaires should not be the primary voices ...

Core Viewpoint - Renowned venture capitalist Vinod Khosla has criticized Rep. Ro Khanna's proposed "billionaire tax," arguing it could lead to the exodus of wealthy individuals from California and harm the state's tax base permanently [1][2]. Group 1: Tax Proposal and Economic Impact - Khosla claims that Khanna's support for the tax has already resulted in the departure of half of California's top $2 trillion in wealth [2]. - The proposed tax would impose up to 5% on residents with a net worth exceeding $1 billion and a one-time $1 billion tax on those with at least $20 billion in assets as of January 1 [4]. - Concerns have been raised that the tax could create extreme uncertainty, potentially killing startups and discouraging new business launches in California [4][7]. Group 2: Reactions from Tech Leaders - Khosla's comments have sparked a debate among tech industry figures, with David Sacks questioning the political benefits of Khanna's support for asset seizures [5]. - Sam Bahreini criticized Khosla and others for their initial support of Khanna, urging them to take responsibility for the consequences of the proposed tax [6]. - High-profile figures like Google co-founders Larry Page and Sergey Brin have already reduced their ties with California due to the tax proposal, raising further concerns about its impact on the state's economy [7].

Silicon Valley's elite are dividing into two camps ahead of a proposed “billionaire tax,” with Alphabet Inc.‘s (NASDAQ:GOOG) (NASDAQ:GOOGL) Google co-founder Larry Page fleeing the state just as Nvidia Corp. (NASDAQ:NVDA) CEO Jensen Huang doubles down on his commitment to California.The Midnight ExitPage, currently ranked as the world's second-richest person, completed the migration of his family office and key assets out of California before the critical Jan. 1, 2026, deadline.According to filings reviewed ...

Core Viewpoint - The proposal has generated significant backlash from other ultrawealthy residents, who are concerned about a potential exodus from the state [1] Group 1 - The proposal has sparked outrage among ultrawealthy residents [1] - Concerns have been raised regarding the potential impact on the state's population dynamics [1]