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Inside the billionaire enclaves just out of reach of CA’s wealth tax
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New York Post
4 Oracle founder Larry Ellison is one of the billionaires flocking to a small California border enclave.
Incline Village, also located on the north shore of Lake Tahoe in Washoe County has a larger population, with around 10,000 people, but still offers incredible views of the lake.
“Given the billions in potential damage to his fiscal house if the California Billionaire Wealth Tax actually passed in November, I would suspect that Mr. Ellison was advised that retaining a California residence was not worth the risk of some future tax claim that he was domiciled in California,” David Lesperance, a leading billionaire tax advisor, told The Post.
President Donald Trump’s tech Czar, billionaire David Sacks, called the billionaire tax theft.
“This is not a tax — this is asset seizure,” Sacks said from the World Economic Forum in Davos, Switzerland.