From: Wilson@nowhere.invalid   
      
   California lost nearly $1 trillion in wealth in the past month alone   
   thanks to fears over its proposed Billionaire Tax, according former   
   Facebook exec Chamath Palihapitiya. "That means the $2T of California   
   wealth they expected to tax is now down to $1.3T and falling quickly. I   
   would not be surprised if 2026 ended with less than $1T of billionaire   
   wealth in California and decades and hundreds of lawsuits. A complete   
   and total unforced error. Where was the Governor? Where are our leaders??"   
      
   The mere fear of the possibility of the measure, which could go to the   
   polls in November 2026 with its potential start date retroactive to the   
   beginning of the year, has reportedly caused many of California’s   
   roughly 215 billionaires to buy homes in Florida, Texas, and Tennessee   
   and relocate some of their company offices out of state, too.   
      
   While California had previously been the promised land for tech titans,   
   more than 45 LLCs in the state tied to Google co-founder Larry Page have   
   recently filed to go inactive or relocate out of state, as a trust   
   linked to him purchased a $71.9 million mansion in Miami’s Coconut Grove.   
      
   Last month, an entity linked to Google co-founder Sergey Brin also   
   either dissolved or relocated 15 California LLCs overseeing his business   
   interests and investments to Reno, Nev.   
      
   In-N-Out CEO Lynsi Snyder meanwhile relocated to Tennessee and   
   established a second corporate office there.   
      
   "If they don’t kill this ballot initiative and entice those folks to   
   come back, the California budget will be massively upside down",   
   Palihapitiya wrote. The only place to get the money is to cut waste,   
   fraud, and abuse or increase taxes on the middle class. The latter is   
   much simpler than the former."   
      
   --- SoupGate-Win32 v1.05   
    * Origin: you cannot sedate... all the things you hate (1:229/2)