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Indian-origin VC questions California’s “billionaire tax”
Asha Motwani’s post comes amid several high-profile billionaires reportedly reconsidering their stay in California ahead of a possible ballot measure.
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Rwittika Chakraborty
- Fri, 02, Jan 2026
- 03:06 EST
- 17
Indian-origin venture capitalist Asha Jadeja Motwani / Motwani Jadeja Foundation (mjf.world/asha-jadeja/)
Indian-origin venture capitalist Asha Jadeja Motwani has raised questions on why California's richest residents are threatening to leave the state over a proposed "billionaire tax" while they are already paying the major share of the taxes.
Along with being a Silicon Valley-based venture capitalist, Motwani, a philanthropist and an early investor in Google, is also the founder of the Motwani Jadeja Foundation, a non-profit established in 2012 to foster innovation and entrepreneurship between India and the United States.
ALSO READ: Billionaire tax good for innovation: Ro Khanna
As expected, billionaires paid bulk of the taxes. The bottom 50% paid 0.1%…. . I’m perfectly happy about this. I don’t understand what is the drama going on in California about the “billionaire tax” given that billionaires are paying most of the taxes in any case. https://t.co/g0gJHwd4t9
— Asha Jadeja Motwani (@ashajadeja325) January 1, 2026
Motwani took to X and shared a post, portraying a graph of income taxes paid by taxpayers, and wrote,
"As expected, billionaires paid bulk of the taxes. The bottom 50% paid 0.1%. I'm perfectly happy about this. I don't understand what is the drama going on in California about the billionaire tax' given that billionaires are paying most of the taxes in any case.”
Motwani’s post comes amid several high-profile billionaires reportedly reconsidering their stay in California ahead of a possible ballot measure that would impose a one-time wealth tax on the state's richest residents.
The proposal was supported by the healthcare union SEIU-United Healthcare Workers West and would impose a 5 per cent levy on assets held by individuals worth over $1 billion.
Upon voters’ approval, the tax would apply to anyone residing in California as of January 1, 2026, and could raise around $100 billion from roughly 200 billionaires, with funds utilised for healthcare and offsetting potential federal budget cuts.
However, reports have suggested that some of the state's richest individuals are already planning exit strategies, including Tech investor Peter Thiel, who recently hinted at opening offices outside of California.
Google co-founder Larry Page is reportedly considering an exit, with several companies linked to him recently incorporated in Florida.
California Governor Gavin Newsom has opposed a state-level wealth tax, claiming that it could see rich residents leave and affect the state's finances in the upcoming days.
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