Billionaires aren’t off the hook for higher taxes, even if they did dodge California’s wealth tax
THE SO WHAT
Killing a state wealth tax didn’t end the fight—it moved it to the federal level, with Silicon Valley money now squarely in the crosshairs. Founders and funds should revisit domicile, compensation, and liquidity planning under scenarios where national capital-gains or wealth-focused regimes tighten over the next cycle.
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