# Billionaire Palmer Luckey isn’t leaving California over the wealth tax

- URL: https://talkfuse.com/story/billionaire-palmer-luckey-isnt-leaving-california-over-the-wealth-tax/
- Published: 2026-10-27T13:01:00+00:00
- Original publisher: TechCrunch
- Original article: https://techcrunch.com/2026/10/27/billionaire-palmer-luckey-isnt-leaving-california-over-the-wealth-tax/
- Topics: Geopolitics, Politics

## Key points

- Palmer Luckey says he is staying in California.
- He opposes the proposed billionaire wealth tax.
- The measure’s treatment of company control is disputed.

## Summary

Palmer Luckey says he will stay in California despite opposing a proposed wealth tax on the state’s billionaires. The Anduril founder argues the measure could prompt companies and people he works with to leave, but says he still believes the state can address its problems.

Luckey said his objection is not to paying taxes, but to the proposal’s sponsor and how the money would be used; organisers say revenue would support healthcare, education and food assistance, including Medi-Cal. The measure would tax wealth that includes unsold or hard-to-sell assets, and penalties could reach 40%. A dispute also concerns how company voting control would be valued: critics say founders with super-voting shares could be taxed on a larger stake than they economically own, while the measure’s drafters dispute that interpretation.

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Summarised by TalkFuse (https://talkfuse.com/). Quote the original publisher for the reporting and link this page for the summary and discussion.