Palmer Luckey Vows to Remain in California

The Anduril co-founder plans to stay in the state while opposing the billionaire tax measure.

Updated on Oct. 27, 2026 in Remote Work

Bold flat-color editorial illustration in navy and cream with deep red, representing the structural tension of California's proposed tax policy. — Anduril co-founder Palmer Luckey confirmed he will maintain his California residency to actively oppose the proposed billionaire tax measure on the November ballot. AI Illustration. Upload story photo >

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Oculus founder and Anduril co-founder Palmer Luckey has announced that he will remain a California resident. He intends to actively contest the proposed billionaire tax on the upcoming November ballot.

Why it matters

Luckey's decision to stay in California to fight Proposition 40 highlights the ongoing political tensions between the state's billionaire community and proposed new tax structures.

Current market data indicates a 23.5% likelihood of Proposition 40 passing in the November election. This figure reflects a slight decline from the 24% probability recorded on October 26, 2026.

The players

Palmer Luckey

He is the founder of the virtual reality company Oculus and the co-founder of the defense technology firm Anduril.

The details

Luckey, known for his work with Oculus and Anduril, is publicly opposing the one-time tax on billionaires. He confirmed his intent to maintain his residency in the state despite his opposition to the initiative.

October 26, 2026: The likelihood of Proposition 40 passage was measured at 24%.
November 2026: California voters will decide the fate of the billionaire tax proposition.

Market Landscape

Proposition 40 represents a significant legislative challenge to the state's existing tax structure for its wealthiest residents. This contest echoes historical patterns of high-profile tech leaders leveraging their platforms to influence California tax policy.

The outcome of Proposition 40 will determine if billionaires face a new one-time tax in California. Residents should prepare for potential shifts in the state's fiscal policy depending on the November election results.

The takeaway

Public debates surrounding state tax measures continue to influence the residency decisions of prominent technology leaders. Voters will have the final say on the proposed tax structure in the upcoming November election.