ThemusicalG

Venture capitalist Chamath Palihapitiya says California’s proposed billionaire tax is accelerating an exodus of ultra-wealthy residents, a shift he argues will worsen and not solve the state’s budget deficit.Palihapitiya, who has been tracking capital flight from the Golden State, said California has so far lost an estimated $1 trillion.MAMDANI’S RISE IN NYC MIRRORS ECONOMIC FLIGHT TO THE SOUTH, STUDY SHOWS"We had $2T of billionaire wealth just a few weeks ago. […]

A federal judge blocked New York City Mayor Zohran Mamdani's effort to intervene in the sale of thousands of rent-stabilized rental properties on Thursday.Mamdani's administration had sought to slow the sale of the properties after tenants complained that the seller, Pinnacle Group, had poorly maintained the properties and were concerned that the prospective buyer, Summit Properties USA, would have similar issues.Mamdani's administration attempted to intervene on the basis of being […]