Meta CEO Mark Zuckerberg is reportedly considering leaving California due to the proposed Proposition 40. This legislative measure suggests a one-time 5% tax on individuals whose net worth exceeded $1 billion as of January 1, 2026.
The potential tax liability for Zuckerberg could reach several billion dollars. While the billionaire is contemplating a change of residence, such a move might not necessarily exempt him from the proposed financial obligations under the current terms of the initiative.
The fate of Proposition 40 remains uncertain as the state approaches the election on November 3, 2026. Current polling data indicates that likely voters are divided on the issue, and the final outcome will be determined by the upcoming vote.
Opposition to the tax measure is significant, with California billionaires having raised $300 million to campaign against the proposal. Market participants and observers are monitoring legislative and judicial developments that could impact the measure before the election.
