[NYP] Billionaire Peter Thiel
| …about $27.5 billion. if that matters… |
isn’t playing over a controversial billionaire tax plan that’s seen some of California’s richest people packing their bags.
Thiel Capital, the PayPal co-founder’s investment firm, is opening a new office in Miami as reports surface that he is especially peeved about the 5% wealth tax that could hit him with a $1.2 billion bill, according to a Wednesday press release.
The firm signed a new lease this month in the Wynwood area of Miami, per the release.
"Mr. Thiel has established a significant presence in Miami over the last several years, maintaining a personal residence in the city since 2020," the firm announced. "Founders Fund, the venture capital firm cofounded by Mr. Thiel and of which he serves as a partner, has maintained an office in Miami since February 2021."
Thiel, who owns a home in the Hollywood Hills, is among the ultra-wealthy Californians taking steps to change their residences in the event the billionaire tax is approved by voters.
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