Upset Palmer Luckey is not leaving California over 'Billionaire tax'
Palmer Luckey, founder of Anduril Industries, has announced he will remain in California despite his opposition to a proposed billionaire wealth tax. He plans to challenge the measure in court if it is passed by voters.
Why it matters
The decision reflects ongoing tensions between high-net-worth individuals and state-level tax policies in California's tech and defense sectors.
Palmer Luckey is not joining billionaires leaving or planning to leave California over the proposed billionaire wealth tax. Founder of Anduril Industries, one of America's biggest defence technology companies, has made it clear that he is very much staying in the state, Wealth Tax or no Wealth Tax. Speaking at an invite-only press conference, the 34-year-old founder made it clear that while he opposes the contentious ballot initiative, he has no intention of packing his bags. His remarks first appeared in TechCrunch.“I think that this tax act, if you can call it a tax, is going to cause a lot of problems. It’s causing a lot of people to run who I don’t want to be running,” Luckey said. “As of right now, though, I’m not running. I am staying. I think California is something special.
Also covering this story
One other newsroom covered this event. We read that version too.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in