Meg Whitman, a prominent businesswoman and former gubernatorial candidate, has sold a significant portion of her California real estate and moved to Colorado, becoming the latest high-profile figure to disassociate with the state. Whitman recently sold a 1,500-acre ranch in Fall River Mills for $17.9 million, following the earlier sale of a Sacramento penthouse. This move occurs as a proposed "billionaire tax"—a 5% levy on the assets of California's wealthiest residents—is slated for the November ballot.
Whitman's departure highlights concerns over California's governance, affordability, and business climate. Critics point to issues such as widespread homelessness, high costs for housing, gasoline, and energy, and a rise in fraud, which they argue have been exacerbated by state leadership. The state's budget has also seen a significant increase, with the current spending plan at $349 billion, more than double the $171 billion budget from a decade prior.
The exodus of wealthy individuals from California has been ongoing. Whitman's decision to leave is particularly noted as she was the last Republican candidate to mount a competitive challenge for the governor's office, running against Jerry Brown in 2010. Her campaign focused on issues like fraud reduction, spending restraint, and education reform, which critics argue remain pressing concerns.
Other notable figures, including former GOP candidates Chuck DeVore, Tom Campbell, and Carly Fiorina, have also left California. The state has reportedly lost approximately 200,000 residents over the past five years, according to U.S. Census data. This trend is seen by some as a warning, potentially leading to fewer jobs, reduced economic dynamism, and diminished tax revenues for the state.