New research: we have studied the wealth of the 200 Californian billionaires and what they effectively pay in tax. (opens in new tab)

New research: we have studied the wealth of the 200 Californian billionaires and what they effectively pay in tax. From Mark Zuckerberg (Meta) to Sergei Brin and Larry Page (Alphabet), the results are edifying. 🧵 It has grown by 144% between 2023 and 2025 only. California’s billionaires now own $2.3 trillion in wealth, equivalent to 50% of California’s GDP and about 10% of California’s total wealth. It does not. California billionaires pay just 0.2% of their wealth in California income tax (a...