POLITICSFORTUNE
LeBron James joins California’s billionaire exodus, but he may not escape the wealth tax
LeBron James is relocating to Philadelphia, but California’s Proposition 40—a 5% wealth tax on billionaires—may still apply due to its January 1, 2026 residency cutoff. The tax faces legal challenges and reflects a broader trend of billionaires either fleeing California or funding political efforts to block the measure.
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