Tech article
Billionaire Palmer Luckey isn’t leaving California over the wealth tax
Publisher description: "It's causing a lot of people to run who I don't want to be running," native Californian Palmer Luckey said. "But I'm planning on staying in California. I'm going to keep fighting it."
TechCrunch | Oct 27, 2026 | Julie Bort
Automated excerpt
While Luckey clearly despises the proposed California billionaire wealth tax, a ballot measure that would tax the net worth of the state’s richest residents, he said he’s not leaving California over it. “I think that this tax act, if you can call it a tax, is going to cause a lot of problems. The biggest problem is the tax on control of your own company,” he said. According to the Tax Foundation, a tax policy think tank, the proposal treat someone someone with voting control as owning at least that same share of the company.
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