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simonsarris | 1 month ago
> Larry and Sergey can’t stay in California since the wealth tax as written would confiscate 50% of their Alphabet shares.
> Each own ~3% of Alphabet's stock, worth about $120 billion each at today's ~$4 trillion market cap.
> But because their shares have 10x voting power, the SEIU-UHW California billionaire tax would treat them as owning 30% of Alphabet (3% × 10 = 30%). That means each founder's taxable wealth would be $1.2 trillion.
> A 5% wealth tax on $1.2 trillion = $60 billion tax bill, each.
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