California helped make them the rich. Now a small proposed tax is spooking them out of the state.
California helped make them among the richest people in the world. Now they’re fleeing because California wants a little something back.
The proposed California Billionaire Tax Act has plutocrats saying they are considering deserting the Golden State for fear they’ll have to pay a one-time, 5% tax, on top of the other taxes they barely pay in comparison to the rest of us. Think of it as the Dust Bowl migration in reverse, with The Monied headed East to grow their fortunes.
The measure would apply to billionaires residing in California as of Jan. 1, 2026, meaning that 2025 was a big moving year month among the 200 wealthiest California households subject to the tax.
The recently departed reportedly include In-n-Out Burger owner and heiress Lynsi Snyder, PayPal co-founder and conservative donor Peter Thiel, Venture Capitalist David Sacks, co-founder of Craft Ventures, and Google co-founder Larry Page, who recently purchased $173 million worth of waterfront property in Miami’s Coconut Grove. Thank goodness he landed on his feet in these tough times.
The principal sponsor behind the Billionaire Tax Act is the Service Employees International Union-United Healthcare Workers West (SEIU-UHW), which contends that the tax could raise a $100 billion to offset severe federal cutbacks to California’s public education, food assistance and Medicaid programs.
The initiative is designed to offset some of the tax breaks that billionaires received from the One Big Beautiful Bill Act recently passed by the Republican-dominated Congress and signed by President Trump.
According to my colleague Michael Hiltzik, the bill “will funnel as much as $1 trillion in tax benefits to the wealthy over the next decade, while blowing a hole in state and local budgets for healthcare and other needs.”
The drafters of the Billionaire Tax Act still have to gather around 875,000 signatures from registered voters by June 24 for the measure to qualify on November’s ballot. But given the public ire toward the growing wealth of the 1%, and the affordability crisis engulfing much of the rest of the nation, it has a fair chance of making it onto the ballot.
If the tax should be voted into law, what would it mean for those poor tycoons who failed to pack up the Lamborghinis in time? For Thiel, whose net worth is around $27.5 billion, it would be around $1.2 billion, should he choose to stay, and he’d have up to five years to pay it.
Yes, it’s a lot … if you’re not a billionaire. It’s doubtful any of the potentially affected affluents would feel the pinch, but it could make a world of difference for kids depending on free school lunches, or folks who need medical care but can’t afford it because they’ve been squeezed by a system that places much of the tax burden on them.
According to the California Budget & Policy Center, the bottom fifth of California’s non-elderly families, with an average annual income of $13,900, spend an estimated 10.5% of their incomes on state and local taxes. In comparison, the wealthiest 1% of families, with an average annual income of $2.0 million, spend an estimated 8.7% of their incomes on state and local taxes.
“It’s a matter of values,” Rep. Ro Khanna (D-Fremont) posted on X. “We believe billionaires can pay a modest wealth tax so working-class Californians have Medicaid.”
Many have argued losing all that wealth to other states will hurt California in the long run.
Even Gov. Gavin Newsom has argued against the measure, citing that the wealthy can relocate anywhere else to evade the tax. During the New York Times DealBook Summit last month, Newsom said, “You can’t isolate yourself from the 49 others. We’re in a competitive environment.”
He has a point, as do others who contend that the proposed tax may hurt California rather then help.
Sacks signaled he was leaving California by posting an image of the Texas flag on Dec. 31 on X and writing: “God bless Texas.” He followed with a post that read, “As a response to socialism, Miami will replace NYC as the finance capital and Austin will replace SF as the tech capital.”
Arguments aside, it’s disturbing to think that some of the richest people in the nation would rather pick up and move than put a small fraction of their vast California-made — or in the case of the burger chain, inherited — fortunes toward helping others who need a financial boost.
A huge pop star was revealed as Goldfish, the lead singer of a group called No Trout, in the launch episode of The Masked Singer as the hit series returned to ITV on Saturday
19:36, 03 Jan 2026Updated 19:38, 03 Jan 2026
Goldfish performed on the first episode of The Masked Singer (Image: ITV)
Anne-Marie was revealed as Goldfish on the launch episode of The Masked Singer. In a first for the programme, the first two episodes will feature a full band, and the panel also had to guess the identity of the lead singer.
After performing as Bruno Marse and Rose hit Apt part of a group called No Trout, the judges correctly guessed the identity of the singer. Following her unmasking, the songstress said: “When I was at school, I had a very short attention span! I’m used to the voice just going that way [in front of me] but in the thing, it was like ‘Oh, that’s what I sound like!” She then gave her first unmasked performance for the studio audience of her signature track 2002.
Fans were thrilled with the star’s appearance, with one writing on X: “Anne-Marie is sooooo good and such a lovely person, that unmasked performance was beautiful!!” But others had guessed it long before the unmasking took place, with one writing: “Knew it was Anne Marie purely by the way she stood” and another said: “Anne Marie was possibly the most obvious unmasking ever. I knew Goldfish was Anne Marie.”
Prior to the revelation, Goldfish asked Davina: “How did it feel to be top of the Christmas tree?” and then asked Jonathan: “They say goldfish have a three-second memory. We’ll be the Judge of that!” Mo received: “54x4x10-166+8=X”, and Maya got a text that says: “I heard you became an award-winning billionaire by swimming upstream!”
The equation, which gives an answer of 2002, was possibly the biggest clue yet. The pop track was released by Anne-Marie in 2018, and references the period of time in which music icons like Britney Spears, Jay-Z and N*Sync ruled the charts. Eager fans who had spotted a preview of the series had already guessed who was behind the mask before it even went to air.
Previously, it was claimed that the new format with the bands was a way of keeping viewers guessing.
The Sun reported that a source said: “As The Masked Singer heads into series seven in the UK, bosses are keeping everyone on their toes by upping the ante on clues and throwing in even more unmaskings. “The franchise’s first-ever bands are going to blow everyone’s minds – but viewers will be left scratching their heads as to whether the band is a big clue or not. “The celebrities hiding inside might run solo in their real lives, or they might be part of some sort of group, or could even be exactly what it says on the tin – an actual frontman or woman.
“Viewers are going to be more bamboozled than ever, but it’s going to be lots of fun.” Viewers can expect to see four unmaskings in the first two episodes. Goldfish and Emperor Penguin are extra celebrities on top of the 12-person lineup.
Last year, the programme was won by West End legend Samantha Barks, who had dressed up as Puffer Fish throughout the series’ run. Samantha, who found fame on the BBC’s I’d Do Anything alongside Coronation Street actress Jodie Prenger and then starred in the film adaptation of Les Misérables with Hugh Jackman, Anne Hathaway and Eddie Redmayne.
Upon her victory, she said: “I feel like I’ve lived this double life because I’ve had these crazy experiences, but nobody in my life knows [about] this, so I’ve loved it!
“I’ve had the best time, I really have. Underneath the mask, it’s been hurting my cheeks because I’ve been smiling so hard! Thank you so much!”
Samantha, who is also known for having played the lead in the West End production of Disney’s Frozen, had fought off competition from celebrities like EastEnders legend Natalie Cassidy, singer Macy Gray, and Celebrity Trators star Kate Garraway, amongst a host of others.
Other previous stars to have been brave enough to take part in the fun show include Dionne Warwick, Prue Leith, Daisy May Cooper, Glenn Hoddle, Mel Giedroyc, Sir Lenny Henry and Lorraine Kelly.
Commentary: California made them rich. Now billionaires flee when the state asks for a little something back.
California helped make them the rich. Now a small proposed tax is spooking them out of the state.
California helped make them among the richest people in the world. Now they’re fleeing because California wants a little something back.
The proposed California Billionaire Tax Act has plutocrats saying they are considering deserting the Golden State for fear they’ll have to pay a one-time, 5% tax, on top of the other taxes they barely pay in comparison to the rest of us. Think of it as the Dust Bowl migration in reverse, with The Monied headed East to grow their fortunes.
The measure would apply to billionaires residing in California as of Jan. 1, 2026, meaning that 2025 was a big moving year month among the 200 wealthiest California households subject to the tax.
The recently departed reportedly include In-n-Out Burger owner and heiress Lynsi Snyder, PayPal co-founder and conservative donor Peter Thiel, Venture Capitalist David Sacks, co-founder of Craft Ventures, and Google co-founder Larry Page, who recently purchased $173 million worth of waterfront property in Miami’s Coconut Grove. Thank goodness he landed on his feet in these tough times.
The principal sponsor behind the Billionaire Tax Act is the Service Employees International Union-United Healthcare Workers West (SEIU-UHW), which contends that the tax could raise a $100 billion to offset severe federal cutbacks to California’s public education, food assistance and Medicaid programs.
The initiative is designed to offset some of the tax breaks that billionaires received from the One Big Beautiful Bill Act recently passed by the Republican-dominated Congress and signed by President Trump.
According to my colleague Michael Hiltzik, the bill “will funnel as much as $1 trillion in tax benefits to the wealthy over the next decade, while blowing a hole in state and local budgets for healthcare and other needs.”
The drafters of the Billionaire Tax Act still have to gather around 875,000 signatures from registered voters by June 24 for the measure to qualify on November’s ballot. But given the public ire toward the growing wealth of the 1%, and the affordability crisis engulfing much of the rest of the nation, it has a fair chance of making it onto the ballot.
If the tax should be voted into law, what would it mean for those poor tycoons who failed to pack up the Lamborghinis in time? For Thiel, whose net worth is around $27.5 billion, it would be around $1.2 billion, should he choose to stay, and he’d have up to five years to pay it.
Yes, it’s a lot … if you’re not a billionaire. It’s doubtful any of the potentially affected affluents would feel the pinch, but it could make a world of difference for kids depending on free school lunches, or folks who need medical care but can’t afford it because they’ve been squeezed by a system that places much of the tax burden on them.
According to the California Budget & Policy Center, the bottom fifth of California’s non-elderly families, with an average annual income of $13,900, spend an estimated 10.5% of their incomes on state and local taxes. In comparison, the wealthiest 1% of families, with an average annual income of $2.0 million, spend an estimated 8.7% of their incomes on state and local taxes.
“It’s a matter of values,” Rep. Ro Khanna (D-Fremont) posted on X. “We believe billionaires can pay a modest wealth tax so working-class Californians have Medicaid.”
Many have argued losing all that wealth to other states will hurt California in the long run.
Even Gov. Gavin Newsom has argued against the measure, citing that the wealthy can relocate anywhere else to evade the tax. During the New York Times DealBook Summit last month, Newsom said, “You can’t isolate yourself from the 49 others. We’re in a competitive environment.”
He has a point, as do others who contend that the proposed tax may hurt California rather then help.
Sacks signaled he was leaving California by posting an image of the Texas flag on Dec. 31 on X and writing: “God bless Texas.” He followed with a post that read, “As a response to socialism, Miami will replace NYC as the finance capital and Austin will replace SF as the tech capital.”
Arguments aside, it’s disturbing to think that some of the richest people in the nation would rather pick up and move than put a small fraction of their vast California-made — or in the case of the burger chain, inherited — fortunes toward helping others who need a financial boost.
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Major pop star revealed as Goldfish on Masked Singer in ‘most obvious unmasking ever’
A huge pop star was revealed as Goldfish, the lead singer of a group called No Trout, in the launch episode of The Masked Singer as the hit series returned to ITV on Saturday
19:36, 03 Jan 2026Updated 19:38, 03 Jan 2026
Anne-Marie was revealed as Goldfish on the launch episode of The Masked Singer. In a first for the programme, the first two episodes will feature a full band, and the panel also had to guess the identity of the lead singer.
After performing as Bruno Marse and Rose hit Apt part of a group called No Trout, the judges correctly guessed the identity of the singer. Following her unmasking, the songstress said: “When I was at school, I had a very short attention span! I’m used to the voice just going that way [in front of me] but in the thing, it was like ‘Oh, that’s what I sound like!” She then gave her first unmasked performance for the studio audience of her signature track 2002.
Fans were thrilled with the star’s appearance, with one writing on X: “Anne-Marie is sooooo good and such a lovely person, that unmasked performance was beautiful!!” But others had guessed it long before the unmasking took place, with one writing: “Knew it was Anne Marie purely by the way she stood” and another said: “Anne Marie was possibly the most obvious unmasking ever. I knew Goldfish was Anne Marie.”
READ MORE: The Masked Singer fans confused as ITV confirms last-minute schedule changeREAD MORE: The Masked Singer’s Goldfish ‘revealed’ as clue ‘gives it away’ they’re huge pop star
Prior to the revelation, Goldfish asked Davina: “How did it feel to be top of the Christmas tree?” and then asked Jonathan: “They say goldfish have a three-second memory. We’ll be the Judge of that!” Mo received: “54x4x10-166+8=X”, and Maya got a text that says: “I heard you became an award-winning billionaire by swimming upstream!”
The equation, which gives an answer of 2002, was possibly the biggest clue yet. The pop track was released by Anne-Marie in 2018, and references the period of time in which music icons like Britney Spears, Jay-Z and N*Sync ruled the charts. Eager fans who had spotted a preview of the series had already guessed who was behind the mask before it even went to air.
Previously, it was claimed that the new format with the bands was a way of keeping viewers guessing.
The Sun reported that a source said: “As The Masked Singer heads into series seven in the UK, bosses are keeping everyone on their toes by upping the ante on clues and throwing in even more unmaskings. “The franchise’s first-ever bands are going to blow everyone’s minds – but viewers will be left scratching their heads as to whether the band is a big clue or not. “The celebrities hiding inside might run solo in their real lives, or they might be part of some sort of group, or could even be exactly what it says on the tin – an actual frontman or woman.
“Viewers are going to be more bamboozled than ever, but it’s going to be lots of fun.” Viewers can expect to see four unmaskings in the first two episodes. Goldfish and Emperor Penguin are extra celebrities on top of the 12-person lineup.
Last year, the programme was won by West End legend Samantha Barks, who had dressed up as Puffer Fish throughout the series’ run. Samantha, who found fame on the BBC’s I’d Do Anything alongside Coronation Street actress Jodie Prenger and then starred in the film adaptation of Les Misérables with Hugh Jackman, Anne Hathaway and Eddie Redmayne.
Upon her victory, she said: “I feel like I’ve lived this double life because I’ve had these crazy experiences, but nobody in my life knows [about] this, so I’ve loved it!
“I’ve had the best time, I really have. Underneath the mask, it’s been hurting my cheeks because I’ve been smiling so hard! Thank you so much!”
Samantha, who is also known for having played the lead in the West End production of Disney’s Frozen, had fought off competition from celebrities like EastEnders legend Natalie Cassidy, singer Macy Gray, and Celebrity Trators star Kate Garraway, amongst a host of others.
Other previous stars to have been brave enough to take part in the fun show include Dionne Warwick, Prue Leith, Daisy May Cooper, Glenn Hoddle, Mel Giedroyc, Sir Lenny Henry and Lorraine Kelly.
The Masked Singer, ITV1/ITVX, Saturday 3rd & Sunday 4th January, 6.30pm
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