--- title: Billionaire Palmer Luckey isn’t leaving California over... description: Anduril founder Palmer Luckey says he will not leave California despite opposing the state's proposed billionaire wealth tax. Luckey estimates he could owe... canonical: https://daily.dev/posts/billionaire-palmer-luckey-isn-t-leaving-california-over-the-wealth-tax-kjkdfx3ay twitter:card: summary_large_image twitter:site: @dailydotdev og:type: website og:site_name: daily.dev og:title: Billionaire Palmer Luckey isn’t leaving California over the wealth tax | daily.dev og:description: Anduril founder Palmer Luckey says he will not leave California despite opposing the state's proposed billionaire wealth tax. Luckey estimates he could owe... og:url: https://daily.dev/posts/billionaire-palmer-luckey-isn-t-leaving-california-over-the-wealth-tax-kjkdfx3ay og:image: https://api.daily.dev/og/posts/KjKDFX3Ay.png og:image:alt: Billionaire Palmer Luckey isn’t leaving California over the wealth tax og:image:width: 1200 og:image:height: 630 og:locale: en --- > ## Documentation Index > Fetch the complete documentation index at: https://daily.dev/llms.txt > Use this file to discover all available pages before exploring further. # Billionaire Palmer Luckey isn’t leaving California over the wealth tax **[TechCrunch](https://daily.dev/sources/tc)** · 5 min read · 0 upvotes · 0 comments ## Summary Anduril founder Palmer Luckey says he will not leave California despite opposing the state's proposed billionaire wealth tax. Luckey estimates he could owe around $3 billion, 5% of Anduril's $61 billion valuation, largely because the measure would tax voting control, not just ownership. He says super-voting shares could count founders as owning more than their actual equity stake, with penalties up to 40%. Luckey says he's faced pressure from other billionaires to leave in protest but plans to keep fighting the measure instead. ## Full article daily.dev links to this article rather than hosting it. Read it at the original source: ## Questions this post answers ### How would California's proposed billionaire wealth tax treat founders with super-voting shares? It would count a founder as owning at least the same percentage of a company as their voting control, even if their actual equity stake is smaller. For example, a founder with 40% of votes but only 10% of ownership could be taxed as if they owned 40%, and selling all their shares might not cover the resulting bill. The measure's drafters dispute this reading, saying super-voting shares are valued differently as publicly traded assets. _Founders weighing equity structure and control should follow policy shifts like this one on daily.dev._ ### How much could Palmer Luckey owe under California's proposed wealth tax? Palmer Luckey estimates he could owe around $3 billion, roughly 5% of Anduril's $61 billion valuation, on that one asset alone. He says the real issue isn't paying taxes generally but a tax on control of his own company, since the measure could tax unrealized and illiquid assets along with voting control, with penalties as high as 40%. _Anyone tracking how wealth tax proposals could hit founder equity can follow the story on daily.dev._ ### Why isn't Palmer Luckey leaving California like other billionaires facing the proposed wealth tax? Palmer Luckey says he wants to stay and fight the measure rather than flee, despite pressure from billionaire peers to leave in protest to show consequences. He called California 'something special' and said he still believes the issues can be fixed through legal challenges rather than relocation. _Readers following founder reactions to tax policy debates can track developments on daily.dev._ ## Similar posts on daily.dev - [Why Silicon Valley is really talking about fleeing California \(it’s not the 5%\)](https://daily.dev/posts/why-silicon-valley-is-really-talking-about-fleeing-california-it-s-not-the-5--waast82gf) · TechCrunch · 44 upvotes · 10 comments - [Larry Page loosens business ties to CA amid state’s proposed wealth tax, report](https://daily.dev/posts/larry-page-loosens-business-ties-to-ca-amid-state-s-proposed-wealth-tax-report-wldj5chmh) · TechCrunch · 0 upvotes · 0 comments - [Anduril opens a $1.3bn employee tender at a $90bn valuation](https://daily.dev/posts/anduril-opens-a-1-3bn-employee-tender-at-a-90bn-valuation-9ydywergi) · The Next Web · 1 upvotes · 0 comments - [Life During Class Wartime](https://daily.dev/posts/life-during-class-wartime-5urrvhixw) · ongoing by Tim Bray · 1 upvotes · 0 comments - [Palmer Luckey's Erebor bank eyes $8bn valuation](https://daily.dev/posts/palmer-luckey-s-erebor-bank-eyes-8bn-valuation-kdxkiq1mn) · The Next Web · 0 upvotes · 0 comments --- Tags: [#startup](https://daily.dev/tags/startup) [View this post on daily.dev](https://daily.dev/posts/billionaire-palmer-luckey-isn-t-leaving-california-over-the-wealth-tax-kjkdfx3ay) ```json {"@context":"https://schema.org","@graph":[{"@type":"Organization","@id":"https://daily.dev/#organization","name":"daily.dev","url":"https://daily.dev","logo":{"@type":"ImageObject","url":"https://daily.dev/apple-touch-icon.png","width":180,"height":180},"sameAs":["https://twitter.com/dailydotdev","https://github.com/dailydotdev","https://www.linkedin.com/company/daily-dev-ltd"]},{"@type":"WebSite","@id":"https://daily.dev/#website","url":"https://daily.dev","name":"daily.dev","publisher":{"@id":"https://daily.dev/#organization"},"potentialAction":{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https://daily.dev/search?q={search_term_string}"},"query-input":"required name=search_term_string"}}]} {"@context":"https://schema.org","@type":"TechArticle","headline":"Billionaire Palmer Luckey isn’t leaving California over the wealth tax","url":"https://daily.dev/posts/billionaire-palmer-luckey-isn-t-leaving-california-over-the-wealth-tax-kjkdfx3ay","mainEntityOfPage":{"@type":"WebPage","@id":"https://daily.dev/posts/billionaire-palmer-luckey-isn-t-leaving-california-over-the-wealth-tax-kjkdfx3ay"},"datePublished":"2026-10-27T13:02:59.102Z","dateModified":"2026-10-27T14:05:18.662Z","description":"Anduril founder Palmer Luckey says he will not leave California despite opposing the state's proposed billionaire wealth tax. 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