# Billionaires fleeing California could turn a $30 billion tax windfall into a $39 billion loss, Stanford economists warn

- Source: Fortune
- Published: 2026-10-21T20:42:26+00:00
- Category: Business
- Original: https://fortune.com/2026/10/21/california-billionaire-tax-prop-40-stanford-study-39-billion-loss/
- Canonical: https://groundlevelnews.com/story/billionaires-fleeing-california-could-turn-a-30-billion-tax-windfall-i-2ce1b8/

Departures have already erased nearly 30% of Prop 40’s tax base, a new NBER paper estimates. The tax’s architects say the math assumes losses that won’t last.

_Ground Level News shows a short summary only; the full article and all rights belong to Fortune._