β οΈ Mark Cuban slams CA tax, warns founders will flee
Billionaire Mark Cuban sharply warned Representative Ro Khanna about California's proposed 5% billionaire tax, Proposition 40. He expressed his concerns about the measure's impact on startup founders located in California. The tax is scheduled for a vote on November 3, aiming to fund healthcare and education programs. Cuban argued that taxing stock-rich founders would force them to sell shares prematurely, undermining growth. If the bill passes, he stated he would make not being a California resident a requirement for his investments. πΈ