What business leaders are saying — and doing — about California's proposed billionaire tax
Bill Ackman, Palmer Luckey, Jensen Huang, and other business leaders are sounding off on California's proposed billionaire tax.
Several prominent business leaders have expressed their thoughts on California's proposed billionaire tax. Mark Cuban believes that only "idiot startup founders" will remain in California if the tax is implemented, while others are already physically relocating. Jensen Huang, CEO of Nvidia, stated that he doesn't think much about the tax as he continues to build the future of AI.
Bill Ackman, billionaire CEO of Pershing Square Holdings, opposes wealth taxes but advocates for a fairer tax system. Ben Horowitz, investor and co-founder of Andreesen Horowitz, criticized the wealth tax during an interview but agreed that it could be a strategy to address California's budget problems. California labor groups proposed a 5% tax on residents with assets exceeding $1 billion, which received enough signatures to be placed on the November 2026 ballot.
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