6 Billionaires Fled California Before This Tax Could Hit Them

Six of California's billionaires left the state before a January 1, 2026 deadline — and took an estimated $27 billion in potential tax revenue with them. They were running from Proposition 40: a one-time 5% tax on net worth, heading to voters this November. But California saw it coming and wrote the measure with a retroactive cutoff date designed so no one could move in time. The billionaires who left early now face residency audits. In this video: - Who left, where they went, and what each departure cost the state - How the retroactive "trap" works — and why lawyers say it may not survive court - Why Governor Newsom is fighting his own party to kill the tax - The research suggesting the billionaire "exodus" is mostly a myth - What this means for your money, even if you'll never own a billion dollars Educational content only — not financial, tax, or legal advice. 🔔 Subscribe — we break down the money moves the wealthy actually use, one at a time.