Travis Kalanick, Uber's cofounder, moved to Austin, Texas, on December 18, 2025, about two weeks before January 1, 2026, when California's proposed billionaires tax would have applied to him.
California's proposed 5% billionaires tax, if approved, would apply only to billionaires whose primary residence was in California as of January 1, 2026. Billionaires departing before that date would not be subject to the tax.
California billionaires tax (one-time, proposed)5% on net worth12Who pays or receives it: California billionaires
Potential tax bill for Kalanick$180 million12Who pays or receives it: Travis Kalanick
Wealth removed from California tax base by departing billionaires$540 billion12Who pays or receives it: Not applicable
Coming up
Wednesday, October 28, 2026. California voters vote on Proposition 40 billionaires tax (California)12
Who's involved
Travis KalanickUber cofounder
Benjamin JarosStanford economist
Joshua RauhStanford economist
The facts
Kalanick moved to Austin on December 18, 2025, about two weeks before the January 1 tax deadline.12Stated by 2 sources
Kalanick owned a home on Lake Austin for roughly five years before the move.12Stated by 2 sources
Kalanick runs Atoms, a robotics company formerly known as CloudKitchens.12Stated by 2 sources
Stanford economists estimated departing billionaires took about $540 billion out of California.12Stated by 2 sources
David Sacks, Craft Ventures cofounder, also relocated to Austin in December 2025.1
Who said what
These are statements and claims made by the people involved. They are reported, not verified.
Travis Kalanick Moved to Texas prior to January deadline; now primary resident of Texas.12
Travis Kalanick Drawn to Lake Austin for the lake and waterskiing.12
California Proposition 40 supporters Initiative would raise about $100 billion in revenue.2
Stanford economists Jaros and Rauh Initiative would raise about $30 billion after accounting for billionaires leaving.2
How they headlined it
The same event, as each outlet put it. Marked words appear in only one outlet's headline.
Uber cofounder moved to Texas ‘prior to January’—dodging $180M hit from California billionaires tax
These outlets were found through Google News headlines. Google decides which outlets appear there, and they lean mostly one way, so this sheet can only be as balanced as the reporting it was built from. Leanings are AllSides Media Bias Ratings.
The Federal Reserve Bank of Dallas released its monthly Texas Manufacturing Outlook Survey on Oct. 23, showing manufacturing production and new orders grew more slowly in October while overall business outlook improved.
Federal Reserve Bank of Dallas, released manufacturing survey
Wonder, founded by Marc Lore, plans to expand into Texas next year with 100 or more locations by the end of 2027. The company also plans to launch Wonder Create on Nov. 17, a $10-per-month subscription letting users run their own restaurants from Wonder locations.
$$9 billion for series D valuation (pre-money)
Marc Lore, founder of Wonder; Gabrielle Scheibe Rabinovitch, chief financial officer; Wonder, food startup
A Dallas-Fort Worth homeowner with two Tesla Powerwalls and a 17-kilowatt solar system compared Tesla's annual battery credit against a free-overnight electricity plan. Tesla pays $400 per Powerwall annually; the homeowner estimated a free-overnight plan could reduce annual bills to about $224-$717.
President Trump announced that Audi plans to build a $4 billion assembly plant in Georgia to produce SUVs annually, creating about 4,500 jobs with production starting in the early 2030s. Toyota said it would spend $3.6 billion to build a truck assembly line on its San Antonio, Texas campus, creating 2,000 jobs by 2030.
$$4bn for assembly plant investment
Donald Trump, US President; Gernot Doellner, Audi CEO; Audi, automotive company announcing factory expansion and 2 more
The San Antonio Food Bank is participating in a carbon-credit project developed by Brightly to generate revenue for rescue operations. The project finances food rescue by preventing methane emissions from decomposing food in landfills, with companies purchasing credits to support collection and distribution work.
San Antonio Food Bank, organization pursuing carbon-credit project; Eric Cooper, President and CEO of San Antonio Food Bank; Brightly, developer of carbon-credit project
Over 4 million votes were cast as the Texas Senate race between Ken Paxton and James Talarico tightened ahead of Election Day. Both candidates made final campaign pushes.
Ken Paxton, Texas Senate candidate; James Talarico, Texas Senate candidate
After Week 8 college football games, No. 2 BYU lost to UCF and Texas Tech lost to Cincinnati on Oct. 24, shifting standings in the Big 12 and affecting College Football Playoff prospects. Texas beat Ole Miss 34-27 to stay in contention, and LSU beat Mississippi State and Auburn.
BYU, No. 2 ranked team that lost to UCF; UCF, Defeated BYU 39-31 in double overtime; Texas Tech, Red Raiders, lost to Cincinnati 37-24 and 6 more