California loses more people each year than live in the entire state of Wyoming, and that’s normal. If you know people that moved states for lower taxes, then I doubt they are billionaires. Why are you, someone who lives outside of California, so invested in a proposed law for a place you don’t live? I don’t live there either, but I don’t care about where billionaires live. I’m just pointing out that it’s mostly empty threats. Remember when Mamdani passed a tax on secondary residences and people threatened to leave? Guess what happened.

If this wasn’t California, I might somewhat agree with your statement. These people aren’t going anywhere, because the California coast is obscenely beautiful. Some might leave, but the majority will stay since the tax will end up just being a tiny inconvenience for their level of wealth.