Story Highlights* The 2026 Billionaire Tax Act proposes a 5% levy on wealth over $1B, including unrealized gains, raising concerns for startup founders and crypto investors.
Crypto and tech leaders warn California’s wealth tax could drive founders, capital, and innovation out of the state amid fears of illiquid asset taxation.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
California Billionaire Wealth Tax Sparks Backlash From Crypto and Tech Leaders
Story Highlights* The 2026 Billionaire Tax Act proposes a 5% levy on wealth over $1B, including unrealized gains, raising concerns for startup founders and crypto investors.