Meg Whitman sells California ranch as billionaire exodus intensifies

Former Hewlett‑Packard and eBay chief executive Meg Whitman, who ran for governor in 2010, sold her 1,500‑acre Fall River Mills ranch for $17.9 million and has relocated to Colorado. Her liquidation comes amid growing calls for a 5 % wealth tax on California billionaires that is slated for the November ballot.

Whitman’s move follows a broader trend of wealthy individuals leaving the state, which has seen an estimated loss of 200,000 residents over the past five years. Critics point to California’s soaring budget—$349 billion this year, more than double a decade ago—and escalating crises in homelessness, housing, energy costs, and fraud enforcement.

The departures are expected to shrink the state’s tax base and underscore political pressure on Governor Newsom and the legislature to address spending and taxation policies.