How tech billionaires spurred an exodus from California

In late December, White House official and tech investor David Sacks made a cryptic post on X: “Message received,” he wrote, above a photo of anti-billionaire demonstrators gathered in front of his San Francisco mansion.

The post made public what Sacks and other billionaires had been planning privately: They were plotting to leave California in protest of a proposed wealth tax that would impact the state’s richest residents. READ MORE