Tech Titans Flee California for Texas and Florida

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The exodus of tech executives from California is accelerating as the state considers a proposed wealth tax that would target billionaires, including potential levies on unrealized gains. Uber co-founder Travis Kalanick revealed he moved from California to Texas in December, while Google co-founders Larry Page and Sergey Brin have relocated to Florida. Meta CEO Mark Zuckerberg and Palantir CEO Alex Karp have also purchased homes in Miami, drawn by Florida's more favorable business and tax environment.

Why it matters

The potential wealth tax has reverberated through Silicon Valley, where several high-profile figures have already established residency elsewhere. This trend highlights growing concerns among tech leaders about the business and tax climate in California, which could lead to further departures of companies and talent from the state.

The details

Uber co-founder Travis Kalanick said he moved from California to Texas on December 18th, prior to California lawmakers actively considering a wealth tax proposal that would target individuals with net worths above certain thresholds and include taxation of unrealized capital gains. Google co-founders Larry Page and Sergey Brin have also moved to Florida, while Meta CEO Mark Zuckerberg purchased a $150 million mansion in Miami. Palantir CEO Alex Karp recently bought a $46 million mansion in the Miami area, and the company has relocated from Denver to Florida.

• On December 18, 2025, Travis Kalanick moved from California to Texas.
• In early 2026, California lawmakers began actively considering a wealth tax proposal.

What’s next

California lawmakers are expected to continue debating the proposed wealth tax, which could lead to further departures of tech companies and executives from the state.