Bill Ackman Warns California Is 'On A Path To Self-Destruction' As Larry Page, Peter Thiel Weigh Exiting State Over Proposed Billionaire Wealth Tax

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On Friday, hedge fund billionaire Bill Ackman sounded the alarm over California's economic future as reports suggest some of the state's wealthiest residents are considering leaving amid a proposed ...

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California's economic future as reports suggest some of the state's wealthiest residents are considering leaving amid a proposed ...</p>\n\n<a href=\"https://www.benzinga.com/news/politics/25/12/49600186/bill-ackman-warns-california-is-on-a-path-to-self-destruction-as-larry-page-peter-thiel-weigh-exiting-state-over-proposed-billionaire-wealth-tax\">网页链接</a>\n\n</div>\n\n<div class=\"bt-text\">\n\n\n<p> 來源：<a href=\"https://www.benzinga.com/news/politics/25/12/49600186/bill-ackman-warns-california-is-on-a-path-to-self-destruction-as-larry-page-peter-thiel-weigh-exiting-state-over-proposed-billionaire-wealth-tax\">Benzinga_recent_news</a></p>\n<p>為提升您的閱讀體驗，我們對本頁面進行了排版優化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SG9999014914.USD","symbol_name":"UNITED GLOBAL QUALITY GROWTH (USDHDG) 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\"AM4H\" (SGDHDG) INC","LU0642271901.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD-H","LU1551013425.SGD":"Allianz Income and Growth Cl AMg2 DIS H2-SGD","LU2430703251.USD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4\" (USD) INC","LU2756315318.SGD":"ALLIANZ INCOME AND GROWTH \"AMG\" (SGDHDG) INC A"},"translate_title":"比尔·阿克曼警告说，随着拉里·佩奇和彼得·泰尔就拟议的亿万富翁财富税权衡退出该州，加州正在“走向自我毁灭”","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{},"content_text":"On Friday, hedge fund billionaire Bill Ackman sounded the alarm over California's economic future as reports suggest some of the state's wealthiest residents are considering leaving amid a proposed tax targeting billionaires.\nThe Pershing Square Capital Management CEO criticized California's political leadership, arguing that aggressive tax policies are pushing out entrepreneurs who drive jobs and economic growth.\nIn a post on X, Ackman said California is \"on a path to self-destruction,\" warning that Hollywood has already declined and that the state now risks losing its most productive business leaders.\nHe also aimed at Democrats for continuing to praise Gov. Gavin Newsom (D-Calif.), calling that stance \"crazy\" given what he described as California's deteriorating business climate.\nSee Also: California Faces $18 Billion Budget Gap Despite AI Tax Windfall\nAckman's comments followed a New York Times report that billionaires, including tech investor Peter Thiel and Google co-founder Larry Page, are considering cutting back or ending their ties to California by the end of the year.\nAccording to people familiar with the discussions, Thiel has explored opening an office for his investment firm in another state and spending more time outside California.\nPage, a longtime Palo Alto resident, has discussed leaving the state entirely, and companies linked to him recently filed incorporation documents in Florida.\nThe moves are reportedly driven by a proposed ballot initiative backed by a California health care union that would impose a wealth tax on residents worth more than $1 billion.\nThe measure would tax 5% of a billionaire's assets and would apply retroactively to individuals living in California as of Jan. 1, 2026. Those affected would be allowed to pay the tax over five years.\nIf approved, individuals with $20 billion in assets could face a one-time tax bill of $1 billion. Based on current estimates, Page's tax liability could exceed $12 billion, while Thiel's could top $1 billion.\nEarlier this month, Newsom accused President Donald Trump of pursuing an economic agenda that benefits billionaires while leaving many working Americans financially vulnerable, intensifying an ideological divide as both men look toward 2028.\nTrump and his allies reject that characterization, saying the administration's policies have strengthened the broader economy.\nThey point to continued GDP growth, cooling inflation and record highs in the stock market. In a November interview, Trump said retirement accounts have surged in value, arguing that market gains are reaching working families through 401(k) plans.\nRead Next:\nDisclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga\nImage via Shutterstock","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"policyRegulatory","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}