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Texas REALTORS Chairman of the Board Jennifer Wauhob speaks to Fox News Digital about the Lone Star State\u2019s recent wealth and population boom that\u2019s \u2018creating good things for Texas.\u2019<\/p>\n
Billionaire and Uber co-founder Travis Kalanick officially joined the exodus from California, revealing he moved to Austin, Texas, just weeks before a proposed wealth tax could have targeted his estimated $3.6 billion fortune.<\/p>\n
“Just to be clear, on December 18, I moved to Texas. I don\u2019t know what\u2019s so specific about December 18, but let\u2019s just say it\u2019s prior to January,” Kalanick said in an interview with TPBN.<\/p>\n
“I get a little bit [of] FOMO on like, these people going to Florida. I’m like, dude! Why so much Florida action?” he continued. “Come on, homies.”<\/p>\n
\u2018WALL STREET TO Y\u2019ALL STREET’: WHY AMERICA’S WEALTHY TRADES CITY LUXURY FOR ACRES OF TEXAS FREEDOM<\/p>\n
Kalanick left his San Francisco home for Texas just 14 days before the new year, when the retroactive residency deadline for the proposed billionaire tax would take effect.<\/p>\n
Travis Kalanick, founder and former CEO of Uber Inc., stands on the trading floor during the company’s initial public offering (IPO) at the New York Stock Exchange on May 10, 2019. (Getty Images)<\/p>\n
While it has not yet qualified for the November ballot, the proposal \u2014 backed by the Service Employees International Union\u2013United Healthcare Workers West (SEIU-UHW) \u2014 would impose a one-time 5% tax on the net worth of California residents with more than $1 billion in wealth. The tax would be due in 2027, and taxpayers could spread payments over five years, with additional fees, according to the California Legislative Analyst\u2019s Office.<\/p>\n
If the measure is approved by voters, anyone who was a California resident on Jan. 1, 2026, would owe the tax, according to the proposal. Based on Forbes\u2019 estimates, Kalanick could owe roughly $180 million.<\/p>\n
Kalanick\u2019s departure follows other longtime California billionaires who have moved themselves or their businesses to Texas in recent years, including Tesla and SpaceX CEO Elon Musk, Palantir co-founder Joe Lonsdale and venture capitalist David Sacks.<\/p>\n
Dallas Mayor Eric Johnson predicts big firms will quit working in the Big Apple on ‘Maria Bartiromo’s Wall Street.’<\/p>\n
Florida is also rapidly absorbing California\u2019s finance and media elite, with names like Amazon founder Jeff Bezos, venture capitalist Peter Thiel, Google co-founders Larry Page and Sergey Brin, and Meta CEO Mark Zuckerberg moving to the “Gold Coast.”<\/p>\n
Kalanick is using his relocation to launch his new venture, Atoms \u2014 formerly City Storage Systems \u2014 which focuses on industrial robotics and “gainfully employed” artificial intelligence, he said in the interview. It\u2019s a pivot from the “perception politics” he claims pushed him out of Uber in 2017.<\/p>\n
“I had been torn away from an idea and a movement that I had poured my life into. I had lost my bearings as I found the world increasingly operating by the rules of perception, not reality,” he writes on Atoms\u2019 website.<\/p>\n
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Unleash Prosperity co-founder Stephen Moore discusses the affordability crisis in blue cities and President Donald Trump\u2019s tariffs on \u2018The Bottom Line.\u2019 <\/p>\n
When jokingly asked if he ever takes work calls through his AirPods while waterskiing, Kalanick responded that he might start doing so.<\/p>\n
“Dude, I should. I’d love it. Don’t get me excited,” he said.<\/p>\n
READ MORE FROM FOX BUSINESS<\/p>\n
#Uber #cofounder #Travis #Kalanick #joins #billionaire #exodus #California #Texas<\/p>\n","protected":false},"excerpt":{"rendered":"
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