A Wealth Tax Floated in California Has Billionaires Thinking of Leaving

It’s uncertain whether the proposal will reach the statewide ballot in November, but some billionaires like Peter Thiel and Larry Page may be unwilling to take the risk.Peter Thiel, a tech venture capitalist, could face a tax bill of more than $1.2 billion if the proposed wealth tax is placed on the California ballot and approved by voters.