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California’s controversial new tax proposal triggers billionaire backlash

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Pooja Rajkumari
Partner
Dec 29, 2025 2:49 PMPublished Dec 29, 2025 2:49 PM
California’s plan to impose a 5% wealth tax on residents worth more than $1B has drawn criticism from crypto executives
www.thestreet.comCalifornia’s controversial new tax proposal triggers billionaire backlashCalifornia’s plan to impose a 5% wealth tax on residents worth more than $1B has drawn criticism from crypto executives
California Billionaire Tax Act•Ro Khanna•California Crypto Companies•Kraken•Jesse Powell•Bill Ackman•Hunter Horsley
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