Indian-origin venture capitalist says she doesn't understand why billionaires are fleeing California

Indian-origin venture capitalist Asha Jadeja Motwani has questioned why California’s richest residents are threatening to leave the Blue state over a proposed “billionaire tax”, saying the wealthiest already take most of the tax burden.In a post on X, Motwani pushed back against claims that the proposal would unfairly target the ultra-rich. “As expected, billionaires paid bulk of the taxes. The bottom 50% paid 0.1%. I’m perfectly happy about this. I don’t understand what is the drama going on in California about the ‘billionaire tax’ given that billionaires are paying most of the taxes in any case,” she claimed.

Her comments come as several high-profile billionaires are reported to be reconsidering their ties to California ahead of a possible ballot measure that would impose a one-time wealth tax on the state’s richest residents.

The proposal was backed by the healthcare union SEIU-United Healthcare Workers West and would apply a 5 per cent levy on assets held by individuals worth more than $1 billion.If approved by voters, the tax would apply to anyone living in California as of January 1, 2026. Supporters say it could raise as much as $100 billion from roughly 200 billionaires, with funds used to support healthcare and offset potential federal budget cuts.

However, reports suggest that some of the state’s wealthiest figures are already planning exit strategies. Tech investor Peter Thiel has hinted at opening offices outside California and spending more time elsewhere. Google co-founder Larry Page is also said to be considering leaving the state, with several companies linked to him recently incorporated in Florida. Furthermore, Sri-Lankan-born tech entrepreneur Chamath Palihapitiya recently warned of an “exodus” of top founders and said he was considering a move to Texas.The potential tax exposure is huge. Estimates suggest Page could face a one-time bill exceeding $12 billion, while Thiel’s could cross $1 billion, according to the New York Times.California governor Gavin Newsom has opposed a state-level wealth tax, saying it could push rich residents to leave and hurt the state’s finances in the long run.Motwani has also been involved in other sensitive issues. She has claimed that she influenced Donald Trump in softening his stance on H-1B visas. She recently supported JD Vance’s idea of America as a Christian nation, saying it is perfectly OK. She has also been accused on social media of defending billionaires who contribute less in taxes despite earning more.