Source: New York Post
The California elite are reportedly setting up a nine-figure endowment fund to push back against the state’s political agenda, specifically the 5% wealth tax on billionaire’s that has already resulted in the ultra-rich fleeing Silicon Valley. Maria Davidson, who is leading the effort, told Bloomberg the idea grew out of mutual concern among friends over the direction California is headed. “We’re in early conversations with people who deeply care about the future of the state of California,” Davidson, the founder of construction startup Kojo, said.
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