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Solana: The Great California Wealth Exodus

Mike Solana, “The Great California Wealth Exodus,” The Free Press (Jan. 25, 2026):

Over the last week, I spoke with 21 billionaires about the looming prospect of a wealth tax. We discussed whether they left or are planning to leave California (most of them are), what a wealth tax means for the technology industry, and finally how, if at all, they plan to fight back. The men I spoke with include founders of companies working on a diverse range of technologies including artificial intelligence, defense, cryptography, security, biotechnology, finance, and general software development, as well as prominent venture capitalists at several of the most famous firms in the world. In total, these men are responsible for something like 50,000 employees, running companies in California roughly worth a combined $1.3 trillion.

Among the men I interviewed impacted by the ballot proposition, none were willing to speak on the record.

“I think there’s definitely a sense that you’ll be attacked and singled out and the average nerd is conflict avoidant,” one man said.


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