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‘Minions’ producer becomes latest Hollywood exec to flee LA over Billionaire Tax threat
Illumination chief executive Chris Meledandri has moved from California to New York, becoming the latest Hollywood figure to leave amid debate over a proposed tax on billionaires. The reported move has drawn attention because Proposition 40 could impose a one-off tax on the wealthiest residents, and some industry figures say the measure has fuelled concern about future taxes even if it fails.
The article reported that Prop 40 was trailing, with 55.6% against and 44.4% in favour after 60% of votes had been counted. Meledandri’s lawyer said he had been seeking a New York home and would continue spending significant time in Los Angeles, citing his work across Illumination’s Paris studio and LA headquarters; the lawyer also disputed claims about his wealth. The proposal would levy 5% on residents worth more than $1 billion, while Google co-founder Sergey Brin was reported to have moved to Nevada and become the measure’s largest opponent donor.
In short
- Illumination chief Chris Meledandri has moved to New York.
- California’s proposed 5% billionaire tax was trailing in early results.
- His lawyer cited family and work ties, and disputed claims about his wealth.
Steelman: both sides, in good faith
The strongest fair case each way — we don't pick a winner.
The case for
Supporters could argue that a one-off levy on billionaires is a fair way to raise revenue from people with exceptional capacity to pay, particularly if the proceeds fund public needs. They may see the measure as a limited tax on accumulated wealth rather than ordinary income, and believe concerns about wealthy residents leaving should not by themselves rule out progressive taxation.
The case against
Opponents could argue that taxing wealth once at a high rate risks driving investors and business leaders out of California, potentially weakening its tax base and economy. They may also see the proposal as unfair or difficult to administer when wealth can be tied up in businesses and assets, and worry that it could signal further taxes even if presented as a one-off measure.
Explained simply
Chris Meledandri runs Illumination, the animation company behind the Minions films. Its work spans studios in Paris and Los Angeles, and Meledandri is among the Hollywood executives whose movements have drawn attention during California’s debate over taxing very wealthy residents.
Proposition 40 proposes a one-off tax of 5% on people worth more than $1 billion who live in California. Supporters and opponents disagree over the measure, while some entertainment industry figures have raised concerns about the prospect of future taxes.
The debate matters because California is a major centre for the film industry, and the departure of wealthy residents could affect the state’s tax base. It has also brought scrutiny to how the proposed tax might influence where business leaders choose to live.
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