Palmer Luckey to stay in California, oppose billionaire wealth tax

Billionaire entrepreneur Palmer Luckey has announced his decision to remain in California despite the proposed wealth tax that has prompted some of his peers to consider relocating. Luckey, the founder of Oculus and co-founder of defense-tech company Anduril, expressed his intent to contest Proposition 40, a measure that would impose a one-time tax on billionaires. His stance offers a notable exception amid reports of other billionaires potentially leaving the state due to the measure. The market for the passage of this wealth tax in the upcoming November election currently reflects a 23.5% likelihood of success, a slight decrease from 24% observed just a day prior. With the California election just days away, attention will focus on voter sentiment and any shifts in polling data.

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