California – Some of the wealthiest figures in American tech are quietly considering cutting their ties to California as a proposed ballot measure threatens to levy massive taxes on the state’s richest residents.
Among them are billionaire venture capitalist Peter Thiel and Google co-founder Larry Page, according to five people familiar with their thinking. The discussions reflect growing anxiety among California’s ultra-wealthy as a potential wealth tax gains momentum ahead of the 2026 election cycle.
Thiel, 58, who owns a home in the Hollywood Hills and operates his investment firm, Thiel Capital, from Los Angeles, has explored opening an office in another state and spending more time outside California, three people said. Page, 52, a longtime Palo Alto resident, has discussed leaving the state by the end of the year, according to two people briefed on the conversations…