‘Minions’ Producer Becomes Latest Hollywood Exec to Flee LA Over Billionaire Tax Threat
5th November 2026
As Californians anxiously await election results this morning, one ballot measure closely being watched by the industry’s one percent is Proposition 40 — which calls for a one-time 5% tax on any resident with a net worth exceeding $1 billion.
As of press time, Prop 40 was losing 55.6% to 44.4% with 60% of the votes counted.
Still, Page Six Hollywood hears that Illumination CEO Chris Meledandri quietly left California anyway as just the latest mogul to flee the state, and one knowledgeable source says the exec relocated “to escape the billionaire tax.”
Even if the ballot measure loses, insiders say it has set a precedent that uber-wealthy Californians are in for a rough ride in the state.
That this would even be a thing in California is the finger of God pointing. Time to leave.
How bad is it? People are moving from California to New York to save on taxes. That’s how bad it is.