David Sacks calls California wealth tax 'an asset seizure,' says it's 'not a one-time, it's a first time'

Tech Insider : Economy, Business
David Sacks speaks during an event at the White House
AI czar David Sacks

Alex Brandon/AP

Larry Page continues his California exodus by buying up Florida property

Tech Insider : Politics, Economy, Business
Larry Page holding a microphone standing in front of a Google backdrop.
Google cofounder Larry Page reportedly purchased property in South Florida.

EMMANUEL DUNAND/AFP/GettyImages

I pay the millionaire's tax in Massachusetts. I've thought about moving my family away, but I'm staying for my kids.

Tech Insider : Business, Economy, Sports
Sam Slater headshot
Sam Slater says he wants to raise his children in Massachusetts, despite paying the millionaire's tax.

Sam Slater

See the list of California's 200-plus billionaires who could be hit by the proposed wealth tax

Tech Insider : Business, Economy
Side by side images of Palmer Luckey, Mark Zuckerberg, Jensen Huang.
Palmer Luckey, Mark Zuckerberg, and Jensen Huang are among the billionaires that could be impacted by a California wealth tax.

Patrick T. Fallon/AFP/Getty Images; Jeff Bottari/Zuffa LLC/Getty Images; Patrick T. Fallon/AFP/Getty Images

Google cofounders Sergey Brin and Larry Page moved an LLC out of California ahead of proposed billionaire's tax

Tech Insider : Business
Sergey Brin and Larry Page dressed in tuxedos at a party
Google cofounded Sergey Brin and Larry Page attended the Vanity Fair Oscar Party in 2007.

Billy Farrell/Patrick McMullan via Getty Images

The California wealth tax is a window into billionaires' risk tolerance

Tech Insider : Economy, Business
Jensen Huang, Larry Page
Nvidia's Jensen Huang and Google's Larry Page had different responses to California's proposed billionaire's tax.

Patrick T. Fallon / AFP via Getty Images, EMMANUEL DUNAND/AFP/GettyImages

Jensen Huang said he is 'perfectly fine' with the California billionaire wealth tax and breaks with other tech CEOs

Tech Insider : Economy, Business
Nvidia founder and CEO Jensen Huang speaks about the Vera Rubin AI platform during a question and answer session with reporters at the annual Consumer Electronics Show (CES) in Las Vegas, Nevada, on January 6, 2026. (Photo by Patrick T. Fallon / AFP via Getty Images)
Nvidia CEO Jensen Huang said he is "perfectly fine" with California's proposed billionaire wealth tax.

Patrick T. Fallon / AFP via Getty Images

Read the letter celebrity lawyer Alex Spiro wrote to Gavin Newsom, warning that his clients will 'permanently relocate' if California wealth tax passes

Tech Insider : Politics, Business, Economy
Alex Spiro and Gavin Newsom
Attorney Alex Spiro wrote to California Gov. Gavin Newsom saying several of his clients would relocate if a billionaire tax were implemented.

Ramsay de Give-Pool/Getty Images; Michael M. Santiago/Getty Images

LVMH CEO Bernard Arnault, once the world's richest man, said a 2% wealth tax would destroy the French economy

Tech Insider : Business, Economy, Technology
Bernard Arnault, Chairman and chief executive officer of LVMH Moet Hennessy Louis Vuitton SE, delivers a speech at the Viva Technology conference in Paris, France, June 16, 2017. REUTERS/Benoit Tessier
Bernard Arnault, Chairman and CEO of LVMH Moet Hennessy Louis Vuitton SE, delivers a speech at the Viva Technology conference in Paris

Thomson Reuters

Massachusetts' millionaire tax is earning more than expected and could help make up for the last few years of high earners fleeing the state

Tech Insider : Economy, Economy
Martha's Vineyard Airport sign.
Martha's Vineyard Airport.

Nancy Lane/MediaNews Group/Boston Herald via Getty Images

Subscribe to wealth-tax