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California's Wealth Tax Plan Fuels UHNW Anxiety
By
Rob Burgess
News April 30, 2026 at 03:12 PM
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What You Need To Know
- Voters in California will be asked to decide in November on a one-time 5% tax on billionaires to fund healthcare.
- A handful of billionaires rushed to relocate to other states ahead of the Jan. 1 deadline to avoid the proposed tax.
- Advisors say wealthy clients fear this will be just the beginning, especially if Democrats sweep the presidency and Congress in 2028.
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