{"id":1995,"date":"2026-01-11T21:25:26","date_gmt":"2026-01-12T02:25:26","guid":{"rendered":"https:\/\/sunshine-by-us.com\/?p=1995"},"modified":"2026-01-11T21:25:26","modified_gmt":"2026-01-12T02:25:26","slug":"california-wealth-tax-proposal-hemorrhages-1t-as-billionaires-flee","status":"publish","type":"post","link":"https:\/\/sunshine-by-us.com\/index.php\/2026\/01\/11\/california-wealth-tax-proposal-hemorrhages-1t-as-billionaires-flee\/","title":{"rendered":"California wealth tax proposal hemorrhages $1T as billionaires flee"},"content":{"rendered":"


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California wealth tax proposal hemorrhages $1T as billionaires flee<\/figcaption><\/figure>\n

Venture capitalist Chamath Palihapitiya warns California lost $1 trillion as billionaires flee proposed wealth tax, threatening state budget and economy.<\/span><\/p>\n

Venture capitalist Chamath Palihapitiya says California\u2019s proposed billionaire tax is accelerating an exodus of ultra-wealthy residents, a shift he argues will worsen and not solve the state\u2019s budget deficit.<\/span><\/p>\n

Palihapitiya, who has been tracking capital flight from the Golden State, said California has so far lost an estimated $1 trillion.<\/span><\/p>\n

“We had $2T of billionaire wealth just a few weeks ago. Now, 50% of that wealth has left – taking their income tax revenue, sales tax revenue, real estate tax revenue and all their staffs (and their salaries and income taxes) with them,” Palihapitiya wrote on X on Sunday.<\/span><\/p>\n

Even as the measure remains under consideration for the November statewide ballot, some of Silicon Valley\u2019s most prominent figures warn it could trigger an exodus of founders and capital.<\/span><\/p>\n

Source: California wealth tax proposal hemorrhages $1T as billionaires flee<\/a><\/em><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Venture capitalist Chamath Palihapitiya warns California lost $1 trillion as billionaires flee proposed wealth tax, threatening state budget and economy. Venture capitalist Chamath Palihapitiya says California\u2019s proposed billionaire tax is accelerating an exodus of ultra-wealthy residents, a shift he argues will worsen and not solve the state\u2019s budget deficit. Palihapitiya, who has been tracking capital […]<\/p>\n","protected":false},"author":2,"featured_media":2004,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"cybocfi_hide_featured_image":"yes","footnotes":""},"categories":[5],"tags":[50],"class_list":["post-1995","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-opinion","tag-news"],"_links":{"self":[{"href":"https:\/\/sunshine-by-us.com\/index.php\/wp-json\/wp\/v2\/posts\/1995","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sunshine-by-us.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sunshine-by-us.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sunshine-by-us.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/sunshine-by-us.com\/index.php\/wp-json\/wp\/v2\/comments?post=1995"}],"version-history":[{"count":4,"href":"https:\/\/sunshine-by-us.com\/index.php\/wp-json\/wp\/v2\/posts\/1995\/revisions"}],"predecessor-version":[{"id":2006,"href":"https:\/\/sunshine-by-us.com\/index.php\/wp-json\/wp\/v2\/posts\/1995\/revisions\/2006"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sunshine-by-us.com\/index.php\/wp-json\/wp\/v2\/media\/2004"}],"wp:attachment":[{"href":"https:\/\/sunshine-by-us.com\/index.php\/wp-json\/wp\/v2\/media?parent=1995"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sunshine-by-us.com\/index.php\/wp-json\/wp\/v2\/categories?post=1995"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sunshine-by-us.com\/index.php\/wp-json\/wp\/v2\/tags?post=1995"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}