Uber Cofounder Kalanick Relocates to Texas Before Wealth Tax Vote

Travis Kalanick, the billionaire cofounder of Uber, has relocated from California to Austin, Texas, becoming the latest high-profile figure to leave the state ahead of a proposed one-time wealth tax on billionaires. Kalanick announced the move during an interview with TPBN on March 13, stating he departed on December 18, just before the new year.

The timing of Kalanick's relocation aligns with efforts to establish residency outside California prior to January 1, 2026, the retroactive cutoff date for the proposed tax under Initiative No. 250-024, known as the Billionaire Tax Act. If approved by voters in November, the measure would impose a 5 percent levy on the net worth of California residents with fortunes exceeding $1 billion as of that date. Taxpayers could pay over five years with interest, and the funds would support healthcare and food assistance programs through a dedicated reserve fund, according to the initiative's language.

The proposal, primarily sponsored by the Service Employees International Union-United Healthcare Workers West, requires 874,641 valid signatures to qualify for the ballot by June 25. Organizers have collected around 220,000 signatures so far and...