Uber Co-Founder Kalanick Moves to Texas Ahead of Proposed California Wealth Tax

Billionaire Travis Kalanick cites FOMO on Florida as he joins exodus from California to avoid new tax.

Mar. 17, 2026 at 3:20am

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Billionaire Travis Kalanick, the co-founder of Uber, has officially moved from California to Austin, Texas, just weeks before a proposed California wealth tax could have targeted his estimated $3.6 billion fortune. Kalanick revealed he made the move on December 18, 2025, prior to the January 1, 2026 residency deadline that would have made him liable for the new tax.

Why it matters

Kalanick's move highlights the ongoing exodus of wealthy individuals and businesses from California amid rising taxes and a perceived anti-business climate in the state. The proposed wealth tax has sparked concerns that it could drive more high-net-worth residents and job creators to relocate to more tax-friendly states like Texas.

The details

The proposed California wealth tax, backed by the SEIU-UHW union, would impose a one-time 5% tax on the net worth of California residents with more than $1 billion in wealth. If approved by voters, the tax would be due in 2027, with taxpayers able to spread payments over five years. Based on Forbes' estimates, Kalanick's $3.6 billion fortune could have resulted in a tax bill of around $180 million.

  • Kalanick moved to Texas on December 18, 2025, just 14 days before the January 1, 2026 residency deadline for the proposed wealth tax.
  • The proposed wealth tax has not yet qualified for the November 2026 ballot in California.

The players

Travis Kalanick

The billionaire co-founder of Uber, who has an estimated $3.6 billion fortune.

Gavin Newsom

The Governor of California, who Kalanick says will have to answer for the state's ongoing exodus of wealth and people when he runs for president in 2028.

Service Employees International Union–United Healthcare Workers West (SEIU-UHW)

The union that is backing the proposed California wealth tax.

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What they’re saying

“Just to be clear, on December 18, I moved to Texas. I don't know what's so specific about December 18, but let's just say it's prior to January.”

— Travis Kalanick, Uber Co-Founder (TPBN)

“I get a little bit [of] FOMO on like, these people going to Florida. I'm like, dude! Why so much Florida action? Come on, homies.”

— Travis Kalanick, Uber Co-Founder (TPBN)

What’s next

If the proposed California wealth tax measure qualifies for the November 2026 ballot and is approved by voters, the tax would be due in 2027, with taxpayers able to spread payments over five years.

The takeaway

Kalanick's move to Texas highlights the ongoing challenge California faces in retaining its high-net-worth residents and job creators, as the state considers new taxes that could drive more wealthy individuals and businesses to relocate to more tax-friendly states.