The Wealth Exodus Is Live: Watch California Die

California started with the Gold Rush and might end with the Golden Exit.

SEIU-UHW, the healthcare union pushing the so-called “billionaire tax,” has already destroyed more tax revenue than they could ever hope to collect. The damage isn’t theoretical—it’s happening right now, tracked in real-time.

Archived tweet

The asset seizure tax by @seiu_uhw is resulting in the destruction of the California tax base in real time. Billionaires can easily move. It’s the middle class and poor who are going to be left holding the bag. Track it here https://t.co/MOZplXPLvZ

Dick Lucas 🇺🇸 Running for CA Assembly @dickclucas February 11, 2026

$519 Per Second: The Real-Time Destruction

The numbers are devastating. According to the California Wealth Exodus tracker, approximately 48 billionaires have already departed the state, taking roughly $1.1 trillion in wealth with them. That translates to $16.4 billion per year in lost tax revenue—or $519 every single second you’re reading this.

This isn’t speculation or fearmongering. It’s a live counter documenting California’s fiscal suicide. And every second that passes, the hole gets deeper.

The Names Behind the Numbers

These aren’t anonymous rich people. They’re the founders who built California’s tech economy.

Larry Page ($274.7 billion) and Sergey Brin ($253.4 billion)—Google’s founders, California’s crown jewels—have both left. According to The Telegraph, Page moved his family office, Flu Lab, and flying car ventures out of state. Brin terminated or moved 15 California LLCs in just 10 days before Christmas.

Mark Zuckerberg ($210 billion), Peter Thiel ($29.4 billion), David Sacks ($2 billion)—gone. And according to the tracker, approximately 129 more billionaires are “considering” leaving. That’s $967.5 billion more wealth on the line.

Who Pays When Billionaires Leave? You Do.

The top 1% pay 46% of California taxes. The top 5% pay 66%. When they leave, someone has to fill the gap.

As Chamath reported, we had $2 trillion of billionaire wealth just weeks ago. Now 50% of that wealth has left—taking income tax revenue, sales tax revenue, real estate tax revenue, and all their staffs with them.

Billionaires can move easily. They have private jets and lawyers. The middle class and poor are stuck here. They’re left holding the bag for a fiscal crisis they didn’t create.

This is regressive taxation disguised as progressive policy. The union claims they’re taxing the rich to help everyone. In reality, they’re driving out the tax base that funds the services everyone depends on.

The Startup Death Sentence

This bill makes startups illegal.

A unicorn startup founder becomes a “paper billionaire” around $5 billion valuation. At Y Combinator, we average 2 to 4 per year. Under this proposed tax, a founder who’s illiquid—unable to sell their stock—would instantly be on the hook for $100 million or more.

You’d be punished for succeeding. Build a company in California, watch it grow, and then be forced into bankruptcy because you can’t pay taxes on wealth you can’t access. The chilling effect will last decades even if this measure fails.

California’s Spending Problem, Not Revenue Problem

California already has the second highest taxes per capita in the country. The state budget has increased 62% since 2019.

Where does the money go? According to the California Wealth Exodus tracker: $24 billion in unaccounted-for homeless spending. $30 billion in unemployment fraud. $128 billion toward a high-speed rail to nowhere that will never be completed.

And despite revenue growth, California faces an $18 billion deficit for 2026-27—the fourth consecutive year of deficits under Newsom. The problem isn’t revenue. It’s accountability.

The Only Fix: A Constitutional Ban

Even if this ballot initiative fails, another will come next year. The threat alone is causing departures—the damage is already done.

California needs a constitutional amendment explicitly prohibiting asset seizure taxes. Rep. Kevin Kiley is preparing federal legislation to preempt the unconstitutional provisions that would tax former residents who have already left.

Two actions you can take right now: Tell SEIU-UHW to withdraw this destructive initiative. Contact your state legislators and demand constitutional protection against wealth confiscation.

This isn’t about billionaires versus everyone else. It’s about whether California remains a place where you can build something. The union pushing this measure will destroy the tax base that funds the very healthcare services they claim to care about. Track the destruction yourself at cawealthexodus.com. Then demand action. The clock is ticking—$519 every second.