Uber co-founder Travis Kalanick has confirmed his strategic relocation from California to Austin, Texas, just weeks before a proposed wealth tax could have impacted his estimated $3.6 billion fortune [1]. In an interview with TPBN, Kalanick stated, "Just to be clear, on December 18, I moved to Texas. I don’t know what’s so specific about December 18, but let’s just say it’s prior to January," highlighting the timing of his move relative to the retroactive residency deadline for the proposed billionaire tax [1].
The California wealth tax proposal, backed by the Service Employees International Union–United Healthcare Workers West (SEIU-UHW), would impose a one-time 5% tax on the net worth of California residents with more than $1 billion in wealth. The tax would be due in 2027, with payments allowed to be spread over five years and additional fees, according to the California Legislative Analyst’s Office [1]. If approved by voters, anyone who was a California resident on Jan. 1, 2026, would owe the tax. Based on Forbes’ estimates, Kalanick could owe roughly $180 million if he remained a California resident [1].
Kalanick’s move is part of a broader trend among California billionaires relocating to Texas, including Tesla and SpaceX CEO Elon Musk, Palantir co-founder Joe Lonsdale, and venture capitalist David Sacks [1]. Florida is also attracting high-profile figures such as Amazon founder Jeff Bezos, venture capitalist Peter Thiel, Google co-founders Larry Page and Sergey Brin, and Meta CEO Mark Zuckerberg [1].
Kalanick is leveraging his relocation to launch his new venture, Atoms (formerly City Storage Systems), which focuses on industrial robotics and "gainfully employed" artificial intelligence. He described this as a pivot from the "perception politics" that he claims pushed him out of Uber in 2017 [1].
CONCLUSION
Travis Kalanick’s move to Texas underscores the growing trend of high-net-worth individuals leaving California in anticipation of potential tax changes. The proposed wealth tax, if enacted, could have significant financial implications for billionaires who remain California residents. Kalanick’s relocation also marks the launch of his new AI and robotics venture, signaling a fresh start outside California.