Anduril Co-Founder Palmer Luckey Says He Is Staying in California to Fight the Wealth Tax While Other Billionaires Flee, per Forbes

Not every California billionaire is packing up over the proposed wealth tax, per Forbes.

While some billionaires are fleeing California ahead of the wealth tax, Anduril co-founder Palmer Luckey said he was staying in order to fight for the state, per Forbes.

"California is something special. I want to fight for California," Luckey said, per Forbes.

A Split Among the Rich

Luckey's stance puts him at odds with a growing list of wealthy Californians who have moved, or threatened to move, ahead of the proposed tax on high net worth residents.

Anduril, the defense technology company Luckey co-founded, is headquartered in Costa Mesa, California, and has grown into one of the most valuable private defense startups in the country on the back of US military contracts.

The wealth tax fight has become a defining political battle in the state, with tech founders split between those relocating to lower-tax states and those, like Luckey, choosing to stay and lobby against it.

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What It Means for Markets

Anduril is private, so there is no direct ticker for the company, but the California wealth tax debate matters for publicly traded tech giants whose founders and executives are weighing the same decision.

Watch GOOGL, META, and NVDA for any flow tied to executive relocation headlines, and defense names like LMT as Anduril keeps winning Pentagon work.

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