In just a couple of weeks, Californians will vote on ballot measure Prop 40—a highly debated measure that would require a one-time 5% tax on the state’s billionaires who lived there as of Jan. 1, 2026.
While some billionaires like Nvidia CEO Jensen Huang are “perfectly fine” with the measure, others left the state ahead of the cutoff. One was Larry Page, the 53-year-old Google cofounder who had ties to California for decades and began severing them after the wealth tax proposal. He’s currently worth $292 billion, so he would have owed nearly $15 billion had he stayed.
