The California Wealth Exodus Continues

Californians are packing up their LA mansions and flocking to states where you can get more bang for your buck and avoid extortionate taxes, rampant crime and the Golden State’s homelessness crisis.

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Celebrities, families and CEOs are all among California’s richest residents who are skipping town to avoid the recently enforced ‘mansion tax’.

The policy, which taxes an extra four per cent on homes sold for more that $5 million and a 5.5 per cent tax on homes above $10 million, went into effect on April 1, 2023, and many Californians took it as their sign to leave.

Gus Lira is a managing partner at a private jet partner company who recently decided he needed to get out of California.

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