Call me, Jeffrey Gundlach told residents of low-tax states.

Jeffrey Gundlach can lead.


"Call me," Jeffrey Gundlach told residents of low-tax states.

The chief executive officer of Double Line Capital tweeted an invitation to real estate agents in the US states in "low taxes, good governance" when they openly considered leaving their Los Angeles base.

In a series of tweets sent to the West Bank over the weekend, the billionaire investor said public figures, including Elon Musk, were "leaving California to avoid incompetent governance."

Like many states plagued by global epidemics, California is considering raising taxes on its wealthiest residents. Democratic lawmakers in Sacramento have proposed raising the top rate from 13.3 percent to 16.8 percent, with changes taking effect on January 1.

New Jersey lawmakers have approved raising the tax rate from 8.97 percent to 10.75 percent this month. Tax increases have been requested’ for those earning more than 10.8 million, and for the rich in Illinois. Meanwhile, in states like Florida, which do not have a state income tax, there is a growing interest in relocating hedge fund managers and other wealthy individuals.

Gundlach will not be alone in his departure for California. Parts of Silicon Valley have moved to Nevada and Texas after accepting work from home. Canyon Partners, meanwhile, is considering setting up a new $24 billion hedge fund firm in Texas next year, when its leaders see Southern California as a tax, congestion and fire hazard.
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"Call me," Jeffrey Gundlach told residents of low-tax states.

Jeffrey Gundlach can lead.

The chief executive officer of Double Line Capital tweeted an invitation to real estate agents in the US states in "low taxes, good governance" when they openly considered leaving their Los Angeles base.

In a series of tweets sent to the West Bank over the weekend, the billionaire investor said public figures, including Elon Musk, were "leaving California to avoid incompetent governance."

Like many states plagued by global epidemics, California is considering raising taxes on its wealthiest residents. Democratic lawmakers in Sacramento have proposed raising the top rate from 13.3 percent to 16.8 percent, with changes taking effect on January 1.

New Jersey lawmakers have approved raising the tax rate from 8.97 percent to 10.75 percent this month. Tax increases have been requested’ for those earning more than 10.8 million, and for the rich in Illinois. Meanwhile, in states like Florida, which do not have a state income tax, there is a growing interest in relocating hedge fund managers and other wealthy individuals.

Gundlach will not be alone in his departure for California. Parts of Silicon Valley have moved to Nevada and Texas after accepting work from home. Canyon Partners, meanwhile, is considering setting up a new $24 billion hedge fund firm in Texas next year, when its leaders see Southern California as a tax, congestion and fire hazard.

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