Blue state's billionaire exodus about to get much worse in 2026, insider warns

By Fox News · Fox News

As Google co-founder Larry Page and Oracle founder Larry Ellison become some of the latest high-profile Californians to flee , an insider is warning that the "mass migration" of billionaire business leaders out of the state is only going to speed up in 2026. Silicon Valley tech entrepreneur Allison Huynh told Fox News Digital that two "rage bait" tax proposals she believes Democrats are using to get voters to the polls this November could be the final nail in the coffin for California. Huynh is a startup founder and investor as well as a former fundraiser for former Presidents Barack Obama and Joe Biden. According to Huynh, the two tax proposals, an annual wealth tax proposal and a 2026 Billionaire Tax Act, would cause a "mass migration," starting with "not just the billionaires, but the people who are investing in new ideas, in new infrastructure, whether it's AI, healthcare, tech, robotics." EXTREME SPORTS STAR LASHES OUT AT NEWSOM FOR KILLING THE CALIFORNIA DREAM: ‘WHAT HAPPENED?’ Public filings reviewed by Fox News Digital from the California Secretary of State’s office show several business entities linked to the Google co-founder were moved out of the state in December, ahead of the Jan. 1, 2026 residency date tied to the proposed tax. Those filings indicate his family office, Koop LLC, and his influenza research fund, Flu Lab LLC, no longer list California, while a flying-car venture, One Aero, now lists its primary address in Florida. Meanwhile, Ellison has taken steps that signal a potential pullback from California, though details of a reported $45 million off-market sale of his San Francisco home have not been independently confirmed by major outlets. The New York Post reported the sale and said it would mark the city’s largest real estate transaction of 2025. With these exits in mind, Hyunh likened the proposed tax hikes to a restaurant about to go out of business. "Instead of lowering the price, they increase the price," she said. "And then you go into…