Billionaire Palmer Luckey isn’t leaving California over the wealth tax

Billionaire Palmer Luckey plans to stay in California despite the proposed wealth tax, citing a desire to fight for the state. He believes the tax will cause problems for companies and individuals he works with, but is willing to stay and try to fix the issue. Luckey's company, Anduril, is headquartered in California and worth $61 billion, and he feels a sense of responsibility to the state where he grew up. He has been pressured by other billionaires to leave the state, but he has chosen not to do so. The proposed tax would assess wealth including unrealized assets and illiquid assets, and would penalize those who do not comply. Luckey believes this would cause companies to leave the state, which would be a problem for him and his business.