1. The tax could cause him to sell equity he doesn't want to. It's not like he has $270B in a checking account.
reply2. If they do it once then why not again next year? Maybe next time it's for only $100 million or $10 million or $1 million. Eventually everyone is paying 5% of their wealth every year. Why not? That's how we got the current income tax.
3. It's the principle. Resisting these efforts sends a signal that they aren't a good idea.
4. Do we really think the money is better off in control of the incompetent CA government than invested in private enterprise or donated to charity? I don't see how it's better for it to line Newsom's Swiss bank account.
It’s supposedly a one-time tax; but, you’re right; who knows what they’ll do.
replyBut his net worth has effectively more than doubled in 1y. I think he’ll be just fine.
> The tax could cause him to sell equity he doesn't want to. It's not like he has $270B in a checking account.
replyHow annual income should return more than that if he can do anything at all.
According to later replies on X it's based on voting control percentage for dual class shares, so it's 40% tax, not 5%. So more than $100 billion.
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