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The Relocation Timing
Uber co-founder Travis Kalanick confirmed his move from San Francisco to Austin, Texas, on December 18, positioning it mere weeks before a proposed California wealth tax's retroactive residency cutoff on January 1. This shift precedes a ballot measure, supported by SEIU-UHW, imposing a one-time 5% tax on net worth exceeding $1 billion for California residents as of that date, payable by 2027 with options to spread over five years plus fees. Forbes estimates peg Kalanick's fortune at $3.6 billion, implying a $180 million liability if he had stayed.
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.
Broader Billionaire Exodus
Kalanick joins a trend of high-profile departures from California, with Tesla and SpaceX CEO Elon Musk, Palantir co-founder Joe Lonsdale, and venture capitalist David Sacks relocating to Texas. Florida is also drawing California's elite, including Amazon founder Jeff Bezos, Peter Thiel, Google co-founders Larry Page and Sergey Brin, and Meta CEO Mark Zuckerberg to its Gold Coast.
I get a little bit [of] FOMO on like, these people going to Florida. I'm like, dude! Why so much Florida action? Come on, homies.
New Venture in Texas
Leveraging his Texas base, Kalanick is debuting Atoms—previously City Storage Systems—focused on industrial robotics and practical AI applications. This marks a departure from the 'perception politics' he says forced him out of Uber in 2017. On Atoms' website, he reflects on losing direction amid a world ruled by optics over substance.
I had been torn away from an idea and a movement that I had poured my life into. I had lost my bearings as I found the world increasingly operating by the rules of perception, not reality.
