Overview
- The initiative, backed by SEIU–UHW, is in the signature-gathering phase and must collect just over 870,000 signatures to reach the ballot.
- The New York Times reported that Peter Thiel is exploring an out-of-state office for Thiel Capital and plans to spend less time in California.
- The Times also reported that Larry Page has begun moving three LLCs to Florida and has discussed leaving the state.
- Public reactions intensified, with Bill Ackman calling California "on a path to self-destruction" and Rep. Ro Khanna mocking threats by billionaires to leave.
- Proponents and media estimates highlight sizable potential liabilities if enacted, with reports suggesting Page could owe over $12 billion and Thiel more than $1 billion.