According to the Public Policy Institute of California, while only 1.9% of company headquarters have left the state, the trend has accelerated since 2017. Companies including Tesla, Chevron, Oracle, McKesson, and Palantir have already relocated operations.
Are Company Headquarters Leaving California?
Apple Is Forcing Dozens of Employees to Relocate: Report
Winners and Losers in the Wealth Tax Era
Potential Winners
- Texas and other low-tax states are gaining jobs and investment
- State and local economic development agencies outside California
Potential Losers
- California tax authorities and municipalities
- Local real estate markets tied to corporate headquarters
- State revenue streams are already under pressure
A Defining Moment for California Billionaires
As the Wealth Tax proposal advances, California Billionaires face a pivotal choice: stay and pay, or leave and restructure. Whether the state can afford the risk — fiscally and economically — remains an open question, one that voters and policymakers will soon be forced to confront.
