Wealth tax: Another billionaire plans to leave California; calls proposal stupid

Published 13 hours ago
Source: timesofindia.indiatimes.com
Wealth tax: Another billionaire plans to leave California; calls proposal stupid
California is seeing wealthy tech leaders depart. DoorDash co-founder Andy Fang announced his exit, citing the state's new Wealth Tax. This tax targets founders with supervoting shares, potentially increasing their taxable ownership. Sergey Brin and Larry Page of Google also relocated. The law's wording is criticized as a trap for tech innovators.