Meta CEO Mark Zuckerberg said he is considering leaving California if a 5% billionaire tax is adopted. Proposition 40 would impose a one-time 5% tax on individuals with a net worth above $1 billion who were California residents on January 1, 2026. Zuckerberg could face a tax liability of several billion dollars, prompting him to consider a residency change, although such a move may not eliminate his tax obligations. The measure remains under debate, with market pricing currently assigning it a 22% probability of passing. The November 3, 2026 election will determine its fate, while legislative or judicial actions could alter the proposal before or after voters go to the polls.
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