Palmer Luckey says he will stay in California despite proposed billionaire wealth tax ballot measure
Palmer Luckey, founder of defense tech firm Anduril (last valued at $61 billion), said he is not leaving California over the proposed billionaire wealth tax ballot measure, though he strongly opposes it. He objects that the measure is sponsored by a unit of the United Healthcare Workers union and that it taxes unrealized and illiquid assets, with penalties of up to 40%. His main objection is the tax on voting control: per the Tax Foundation, founders with super-voting shares could be taxed as if they owned at least their share of the votes. The measure's drafters dispute that reading. Luckey estimates he could owe about 5% of Anduril's value, roughly $3 billion, and hopes the measure fails or is struck down in court. This is political and policy news with no cybersecurity incident, threat actor or vulnerability.
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Palmer Luckey says he will stay in California despite proposed billionaire wealth tax ballot measure
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Palmer Luckey, founder of defense tech firm Anduril (last valued at $61 billion), said he is not leaving California over the proposed billionaire wealth tax ballot measure, though he strongly opposes it. He objects that the measure is sponsored by a unit of the United Healthcare Workers union and that it taxes unrealized and illiquid assets, with penalties of up to 40%. His main objection is the tax on voting control: per the Tax Foundation, founders with super-voting shares could be taxed as if they owned at least their share of the votes. The measure's drafters dispute that reading. Luckey estimates he could owe about 5% of Anduril's value, roughly $3 billion, and hopes the measure fails or is struck down in court. This is political and policy news with no cybersecurity incident, threat actor or vulnerability.