Comment by jpollock
2 days ago
It's very expensive to move the business that owns the assets, and then you need to ensure you don't become resident again.
Once the money moves, it won't come back to where it can be grabbed.
That's why the USA has exit taxes when giving up green cards and citizenship.
But the business didn't move. Meta not moving to FL, and Prop 40 doesn't give any reason to move it; it's a tax on the resident, not the business.
All of the billionaires have corporations, called the "Family Office". Moving the office would be a pain point.
They have been moving both themselves and their family offices.
https://ca.finance.yahoo.com/news/google-cofounders-sergey-b...