Rich Californians deploy creative ways to get around hated billionaire tax – including giving cash away
California's ultra-wealthy are working with tax advisors to legally lower their reported net worth through creative strategies like accelerated charitable giving, delaying company funding rounds, and buying exempted real estate.
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Politics Rich Californians deploy creative ways to get around hated billionaire tax – including giving cash away By Zain Khan Published June 14, 2026, 6:22 p.m. ET See more of our coverage in your search results. Add The California Post on Google California’s wealthiest residents are scrambling to shield their fortunes as November comes closer with the controversial billionaire tax — with some accelerating charitable donations, buying luxury vacation homes and even joking about divorce to soften the blow. The proposed measure, if passed, would impose a one-time levy of up to 5% on the net worth of Californians worth more than $1.1 billion, based on their wealth at the end of this year if they were state residents on Jan. 1.
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