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Uber co-founder Travis Kalanick flees California to dodge billionaire tax

By PulseAugur Editorial · [1 sources] ·

Travis Kalanick, co-founder of Uber, relocated to Austin, Texas, in December 2025 to avoid California's proposed Proposition 40, a one-time 5% tax on billionaires. This move, completed just before the January 1, 2026, residency cutoff, could have saved Kalanick an estimated $180 million on his $3.6 billion net worth. Kalanick's departure is part of a larger trend of wealthy individuals leaving California to escape potential new taxes, with Stanford economists estimating that such moves could significantly reduce the projected revenue from Proposition 40. AI

RANK_REASON News about a high-profile individual relocating to avoid a significant tax policy, impacting projected state revenue. [lever_c_demoted from significant: ic=1 ai=0.0]

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AI-generated summary · Google Gemini · from 1 sources. How we write summaries →

Uber co-founder Travis Kalanick flees California to dodge billionaire tax

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News about a high-profile individual relocating to avoid a significant tax policy, impacting projected state revenue. [lever_c_demoted from significant: ic=1 ai=0.0]
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COVERAGE [1]

  1. Fortune TIER_1 English(EN) · Sydney Lake ·

    Billionaire Uber cofounder Travis Kalanick moved to Texas—dodging a possible $180 million hit from California’s billionaire tax

    Kalanick has owned a Lake Austin home for five years. He made it his primary residence two weeks before California’s proposed wealth tax would have applied to him.

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