The ‘smart’ money folks are getting the hell outta Dodge!!!
As the clock ticks on California’s billionaires facing a proposed wealth tax, some of America’s top business leaders are making strategic moves to leave the Golden State.
Google co-founder Larry Page appears to be distancing himself from California, as public filings reviewed by Fox News Digital from the California Secretary of State’s office show several business entities linked to Page were moved out of the state in December, ahead of the Jan. 1, 2026, residency date tied to the proposed tax. Those filings indicate his family office, Koop LLC, and his influenza research fund, Flu Lab LLC, no longer list California, while a flying-car venture, One Aero, now lists its primary address in Florida.
Oracle founder Larry Ellison has taken steps that signal a potential pullback from California, though details of a reported $45 million off-market sale of his San Francisco home have not been independently confirmed by major outlets. The New York Post reported the sale and said it would mark the city’s largest real estate transaction of 2025.
Full article, HERE from Fox News.
These folks aren’t dummies!
Just between the two of them, that would be $16.8 BILLION dollars they would owe Kommiefornia. And they didn’t get to be billionaires by doing stupid things that cost them money…
And they’re not the only ones and companies that are exiting stage right, in this case. You know as well as I do, California will pass the legislation to scrounge every penny they can from every avenue since they are billions in the red, and with the cuts to USAid they’ve lost that government trough they’ve been siphoning off of for years.
Plus the Feds just pulled the funding for the ‘railroad’ to nowhere that is never going to happen, so that’s another $4 billion they can’t scam off of…
Sigh…
In other news, we knew it was going to happen sooner or later, and it looks like we’ll have George Floyd 2.0 shortly in Minnesota… The hue and cry has already started… I’m going with my normal 72 hour rule, even after seeing the videos, because I want to see what ‘else’ is going to come out (or get disappeared)…
That residency date will have to be changed to whatever date the proposed bill is actually signed into law, otherwise California will get sued (and WILL lose in federal court) because they tried to enact an ex post facto law (prohibited to the states by Article I, Section 10 of the U.S. Constitution.)
I did a quick search when I first saw this story on X wrt a particular billionaire who is on the move. Turns out that the courts have repeatedly ruled that “within the past tax year” is reasonable.
I believe that Oracle has had its HQ in Austin, TX for several years now.
The rich will leave along with their companies.
What is happening now is the California AB5 Law is in affect and it is forcing private long haul truck drivers out of the state, about 70k of them. This and shut down of hundreds of private owned gas stations is leading to less diesel places in many rural areas on California due to tank change outs that never happened.
The state has been working against Fuel Companies in multiple ways to push for EV 100% but EV is ready and the electric power is not there.
I meant EV is not ready.
At least the brouhaha has taught me that “I can’t breathe” seems to be a common Minnesota complaint.
LOL, from 3 Speer 124 grain Gold Dot….in this case rather than Fentanyl
When the locals ignore law, judges issue orders that prevent lawful actions, politicians demand federal employees not do their job, and paid protestors cause mayhem, what is there left to protect citizens? The Insurrection Act has been invoked in the past, and troops were sent in to stop the riots. I can see this happening, and if they arrest the mayor for sedition, I might try a cartwheel. After that, round up anyone that can’t prove a legal right to be in the United States, and send them somewhere else.
The problem isn’t what happens in Minnesota and other cities, the bigger problem is how this affects voting. The Republicans are doing decent work in Congress even if not at the pace some of us would like to see. Lose their majority in the House and the next two years are impeachment theater. Lose their majorities in the Senate and judicial appointments stop as well. The Trump experiment will be well and truly over. The agencies will muddle on for a couple more years and we may get Biden 2.0 in 2028.
Watch the DemocRAT senators and House members in front of the cameras. Some are poor actors and have trouble concealing their glee that an anti-ICE protestor is dead. I’m sure they’re waiting for yet another, more sympathetic “martyr,” but that’s what this is. They give bad advice–“Get in their face!,” etc.–to their foot soldiers, and my cynical mind tells me they want some protestor(s) to die, hoping for another “victim,” like “St. George Floyd.”
Yep.
If ICE is acting illegally, then let the city and state police oppose it at the direction of Walz and Frey.
Under Newsom and company Cali is well on its way to being a third world s#*% hole, San Fran and LA LA land are already there. Driving people with money to invest away won’t make it better. If Trump is able to close down the federal teat, the “fourth largest economy in the world,” will go the way of Venezuela. Maybe Alaska can buy it for pennies on the dollar.
All- You’re NOT wrong…
Re: that one ICE protester. We have two females, one of whom was videoing the other encouraging her in callous risks of human lives.
At least one of the is described as a mother.
It is uncomfortable to make this estimate, but if the pattern of behavior is not new, then there is a chance of child sexual-abuse material to be found in their possession.
Newsom’s goal is to have more Californians who vote for a living than voters who work for a living.
In 2006 I was doing some work for a company founded in Fullerton in 1939. The CEO moved the operation to Grand Prairie. He told me that, even after all the moving expenses, they saved $800,000 that staying in California would cost them. Twenty years later, had they stayed in Fullerton, likely they would be out of business.
Not sure why any functional business would remain in Kali. It’s about as unfriendly to business as possible.
Asked by Great-Uncle John for directions to where my Grandfather was born in Minneapolis. “Can’t. It’s Somali now. They don’t let Whites in.”
That was 20+ years ago.
This problem has been decades in the making.
Solution won’t be quick, painless, or bloodless
California used to be pleasant, a place people would move to, not anymore.
Not unlike the UK, when you think on it.
All- Thanks, and sadly, no disagreement…
Every person has a financial breaking point. Most people live on the edge. When taxes are increased people on the edge are pushed over the edge and leave. Those who stay are forced to make up for those who left, forcing the next level down to have their taxes increased until they too break and leave. The cycle repeats itself until voters revolt. California would be wise to drastically cut spending rather than continually raising taxes.