Spiro Warns Newsom: Billionaire Wealth Tax Will Spark Capital Exodus

Jan 02, 2026

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Gavin Newsom makes surprise visit to SF's Tenderloin to talk fentanyl : r/sanfrancisco

California’s billionaire wealth tax battle escalated this week after celebrity attorney Alex Spiro urged Gov. Gavin Newsom to kill the proposal, warning wealthy clients would flee the state if it passes. According to Business Insider, Spiro’s Dec. 11 letter frames the tax as an existential risk to California’s economy.

The proposed Billionaire Tax Act w…

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