Uber billionaire co-founder Travis Kalanick joins California exodus ahead of proposed wealth tax

According to the Los Angeles TimesKalanick said on the TBPN tech talk show last week that he became a primary resident of Texas on Dec. 18, 2025. While he did not directly cite the tax proposal as the reason for his move, he hinted: “I don’t know what’s so specific about Dec. 18, but let’s just say it’s prior to January.”

His relocation comes ahead of a Jan. 1 cutoff tied to the proposed billionaire tax, which would determine residency for those subject to the measure, according to Fox Business. The proposal would impose a one-time 5% levy on individuals with net worth exceeding US$1 billion, with revenues earmarked for healthcare, education and food assistance.

The measure, backed by the Service Employees International Union-United Healthcare Workers West, still requires sufficient signatures to qualify for the November ballot and would need voter approval to take effect. A campaign website states that taxable wealth would include global assets, limiting the ability of billionaires to avoid the tax by relocating holdings.

However, the proposal faces significant resistance. Lawyers representing wealthy individuals have indicated they would challenge the measure if it advances, while Gavin Newsom, governor of California, has also voiced strong opposition.

In an interview with The New York TimesNewsom said he had been working behind the scenes against the proposal and would continue to oppose it if it reaches the ballot.

“This will be defeated, there’s no question in my mind,” he said. “I’ll do what I have to do to protect the state.”

The governor has long argued that a wealth tax could stifle innovation in California, where the technology sector has been a key driver of economic growth and state revenue.

Kalanick, 50, is among several high-profile figures reassessing their presence in the state lately. Google co-founders Larry Page and Sergey Brin have reportedly shifted parts of their business operations elsewhere, while Meta CEO Mark Zuckerberg has purchased property in Florida. Filmmaker Steven Spielberg has also relocated to New York.

According to ForbesKalanick co-founded Uber in 2009. He stepped down as chief executive in 2017 and left the board in 2019, the same year he sold all his Uber shares for more than US$2.5 billion before tax.

His net worth is estimated at US$3.6 billion as of March 17. Kalanick now serves as chief executive of CloudKitchens, a global ghost-kitchen business backed by investors including Microsoft and Saudi Arabia’s sovereign wealth fund.