Billionaire 'bond King' Gundlach Hints He Might Leave California To A Lower-tax State If Local Taxes For The Wealthy Are Raised

snagarajan@businessinsider.com (Shalini Nagarajan), Business Insider
Mon, 09/28/2020 - 3:06am

DoubleLine CEO Jeffrey Gundlach. REUTERS / Jessica Rinaldi Billionaire investor Jeffrey Gundlach hinted on Twitter he would leave California if local taxes rise for high-earners.The CEO of DoubleLine Capital said in a tweet on Saturday that Elon Musk, comedian Joe Rogan, and political commentator Ben Shapiro are leaving California to "escape incompetent governance."Taxes are likely to go up for the wealthy in nine states including California, where Democratic lawmakers are proposing an increase on the state's highest earners to help pay for a widening budget deficit caused by the pandemic.In the aftermath of the last financial crisis, between 2010 and 2012, eight states increased taxes on high-earners.Visit Business Insider's homepage for more stories.Billionaire bond investor Jeffrey Gundlach hinted in a Twitter post that he would leave California for a lower-tax state if Sacramento hiked taxes on the wealthy.

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Billionaire 'bond King' Gundlach Hints He Might Leave California To A Lower-tax State If Local Taxes For The Wealthy Are Raised

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