Monday, January 19, 2026

This story cracks me up

Washington Post: "How tech billionaires spurred an exodus from California - The online campaign against a proposed billionaire tax was sparked by industry leaders that have long bashed San Francisco. It has consumed the tech world, and is driving some of the state’s richest residents to relocate."
Tax lawyers and advisers to California tech elites say clients began making hasty preparations in December, in part because of language in the proposal that would apply the tax retroactively to anyone who was a California resident on Jan. 1, 2026. (That language, tax lawyers said, is almost certain to be litigated.)

David Lesperance, a tax attorney, said that four of his clients, worth $600 billion collectively, have set relocation plans into motion — three to Florida and one to Texas. “Every one of my clients who ran the numbers [after Thanksgiving] came back immediately and said get me the hell out of here,” he said. “This is now a no-brainer.”
Hahaha - oh man.  Half a trillion dollars relocated to red states overnight.  Well, you're going to get your wish, California, of people over billionaires. 

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