Free NewsletterPro Login

Warning: Undefined variable $stocks in /var/www/briefs.co/htdocs/wp-content/plugins/oxygen/component-framework/components/classes/code-block.class.php(133) : eval()'d code on line 448

Warning: foreach() argument must be of type array|object, null given in /var/www/briefs.co/htdocs/wp-content/plugins/oxygen/component-framework/components/classes/code-block.class.php(133) : eval()'d code on line 448

Warning: Undefined variable $funds in /var/www/briefs.co/htdocs/wp-content/plugins/oxygen/component-framework/components/classes/code-block.class.php(133) : eval()'d code on line 472

Warning: foreach() argument must be of type array|object, null given in /var/www/briefs.co/htdocs/wp-content/plugins/oxygen/component-framework/components/classes/code-block.class.php(133) : eval()'d code on line 472
/* the link was here */

Billionaires Are Fleeing California's Proposed Wealth Tax For Nevada

Published Jun 11, 2026
Share:
Modern lakeside mansion surrounded by pine trees, with large glass windows and wooden decks overlooking clear turquoise water; a dock extends into the lake, with mountains visible in the background at sunset.
Summary:
  • California's proposed 5% one-time tax on billionaires won't be voted on until November.
  • Google co-founder Sergey Brin already paid $42 million for Lake Tahoe's most expensive home, on the Nevada side.
  • Sales of $20 million-plus homes near Incline Village hit four so far this year, up from zero at this point last year.

California's wealth tax on billionaires is still just a proposal. Voters won't decide on it until November.

The billionaires it targets didn't wait around. Many have already moved across the state line into Nevada.

The vote is months away. The moves are already done.

Brin's $42 Million Move

Sergey Brin made the boldest move. Late last year he paid $42 million for a mansion in Crystal Bay.

The home sits on the Nevada shore of Lake Tahoe. It's now the priciest home on the lake.

He bought it through a new company called Alpine Bay LLC. The house sits just over the Nevada border.

That puts it out of reach of the tax California is weighing. Picture nudging your car past a line on the street to dodge a parking ticket.

Now picture that car costing $42 million and holding 13 fireplaces. Brin didn't stop at the house.

He also moved most of his California companies out of the state late last year.

We follow the money stories most people miss, every morning in Market Briefs - five minutes a day, plus a free investing masterclass when you sign up.

Other Billionaires Are Leaving Too

Brin isn't alone. The list also includes SpaceX investor Steve Jurvetson and AI founder Naveen Rao.

Oracle's Larry Ellison joined in too. He sold a $45 million San Francisco home ahead of the proposed tax.

The trend is clear. Money is heading east to Nevada.

Local brokers say the rush shows up in the price tags. Homes selling for $20 million or more near Incline Village have hit four so far this year.

At the same point in 2025, that count was zero. The jump has been that fast.

Rao moved his family into a $20 million mountain home. He said the tax would wipe out his startup, since he doesn't hold the cash to pay it.

What The Proposed Tax Says

The plan is a one-time 5% tax. It would hit the net worth of Californians worth more than $1 billion.

It would reach assets like businesses, stocks, art and patents. But it would spare real estate and pensions.

There's a catch that explains the early exits. The tax would apply to anyone who lived in the state at the start of 2026.

So leaving now is the only clean way out. A capital gains tax is different, since you pay that only when you sell.

This tax would hit what people already own. Brin compared it to the Soviet socialism his family fled in 1979.

He has since put $57 million into a group fighting it.

Worth Noting

Even the threat of this tax is reshaping a quiet lake town. The proof is in the sales, which keep stacking up before any vote.

The bill itself wouldn't come due until 2027. And it could be paid over five years.

So the math still favors moving early.

Whether California passes it in November almost doesn't matter to the people who already left.

If you want to follow where big money is heading next, join 350,000+ investors reading Market Briefs - it's free, and a 45-minute investing course comes with it.

Disclosure

Recent News

1 2 3 … 101

Get Market Briefs delivered to your inbox every morning for free!

No fluff. No noise. No politics. Just finance news you can read in 5 minutes.

Blogs

October 5, 2026
What Is the Briefs Connector? A Simple Guide
  • The Briefs Connector lets your favorite AI read Briefs research, like Pro reports and the Briefs Score.
  • Without it, an AI asked about investing can give answers that sound right but aren't backed by that research.
  • It explains the research, but it won't tell you what to buy or sell.
Read More
October 5, 2026
Is a Recession Coming? What the Last Five Rate Hiking Cycles Say
  • The Fed has started raising rates again, and in the last five hiking cycles going back to 1994, a recession never started while the hikes were underway.
  • The pain showed up where there was a bubble to pop - housing in 2008, dot-coms in 2000, the pandemic money-printing boom in 2022 - and usually after the hikes ended.
  • Private equity and private credit are feeling this cycle first, and how far the pain spreads depends on how high rates go and how long they stay there.
Read More
October 2, 2026
Fed Interest Rates May Rise Again in 2026 - and the Newest Culprit Is AI
  • Fed Governor Barr told a meeting our head of investing research attended that higher rates are likely in 2026, lower inflation may not come soon, and AI is now pushing prices up.
  • The same week, President Trump asked the biggest AI companies to police themselves under an accord that's morally but not legally binding, because the White House sees AI as a race with China.
  • Higher rates put downward pressure on asset prices and squeeze borrowers, but the way through hasn't changed: own investments, buy on a schedule, and treat downturns as discounts.
Read More
October 1, 2026
Housing Market 2026: Why Office Buildings Are Cracking Before Houses Do
  • Office buildings are selling for 80% to 95% off because their five-year loans are resetting at much higher rates while half-empty floors have gutted the income those buildings are valued on.
  • Housing is under pressure, not cracking: a $400,000 mortgage costs $975 more a month than at 3%, but six of every seven mortgages are still under 6% and those owners are staying put.
  • Whether pressure turns into cracks is a race between unaffordability and the economy, and either way Jaspreet's rule is to treat your house as a liability and buy only what you can afford.
Read More
September 30, 2026
Dividend Investing vs. Growth Investing: Why the Slower Portfolio Can End Up Bigger
  • "What stock should I buy?" is the wrong first question. Growth, income, or wealth preservation comes first, and the goal changes which stocks even make sense.
  • At $500 a month for 30 years, 13% growth builds about $1.75 million. 10% growth plus a reinvested 4% dividend builds a little more than $2.2 million and pays a little more than $80,000 a year.
  • Income investors have US dividend ETFs, REITs, and international dividend funds to study. Growth investors have the Nasdaq 100, AI and chip funds, and small caps. None of it is a recommendation.
Read More
September 29, 2026
Why Is Gold Going Down? A 5.2% Treasury Yield Just Took Its Job
  • President Trump rejected Iran's deal to reopen the Strait of Hormuz, oil prices jumped back up, and gold fell instead of rising.
  • Treasury yields hit their highest level in more than 20 years, so investors sold gold and bought Treasuries that pay interest.
  • Higher Treasury yields make the national debt, mortgages, car loans, and credit cards more expensive, with the Fed's next rate decision due October 28.
Read More
September 28, 2026
The Strategic Bitcoin Reserve: Why the Government Wants Bitcoin to Explode
  • The US government holds about 328,000 Bitcoin, worth roughly $25 billion, and since a 2025 executive order it keeps seized coins instead of selling them.
  • Washington wants a bigger pile of assets so its $40 trillion national debt looks smaller next to them, which lets it keep borrowing and spending.
  • Bitcoin's wild price swings, and a government holding a coin built to escape governments, are the two risks investors need to watch.
Read More
September 25, 2026
BRIEFS EXCLUSIVE: 43% Of Respondents Say Bills Outran Their Income Over Past Two Years
  • 43% of the 494 Market Briefs readers surveyed said their bills grew faster than their income over the past two years, even though 79% could cover a surprise $5,000 expense tomorrow.
  • Half of readers own gold or crypto, the two classic bets against a weaker dollar, and only 13% bought nothing at all in the last 12 months.
  • The median reader says it takes $150,000 a year to feel financially secure, about $62,000 above the U.S. median household income.
Read More
September 25, 2026
The Economy Is Booming. So Why Did Stocks and Bonds Fall Together?
  • S&P Global says the US economy is growing at its fastest rate since 2021, with corporate profits up 28.9% in a year, almost four times the historical average.
  • Stocks and bonds fell at the same time, which is not how the two markets normally behave, because Treasury yields above 5% now compete with stocks for investors' money.
  • Jaspreet Singh lays out three ways to invest through a shift like this: always be buying, buy the crash, or follow the money before it hits the headlines.
Read More
September 24, 2026
The 2026 Economic Reset Is Starting: Are We in a Recession, or Is the Pain Still Ahead?
  • The Federal Reserve has flipped from stimulating the economy to fighting inflation with higher interest rates, while the White House still wants growth at almost any cost.
  • The national debt tops $40 trillion, has outgrown the entire U.S. economy, and its interest payments are now the government's fastest-growing expense.
  • Higher rates bring pain for private equity, private credit, and speculative assets, but they open opportunities for investors holding cash, treasuries, and value assets.
Read More
1 2 3 … 28
Share via
Copy link