Patel expressed his distaste for company-specific acronyms that are used without explanation, saying they can make staff feel like they're "too stupid to ask what the abbreviation means. He recalled an instance where he noticed employees referring to him as JP" in a meeting, only to realize it was a nickname for himself.

Patel views the use of non-standard acronyms as a barrier to inclusivity and participation in meetings. He believes that when staff feel like they need to be familiar with company-specific jargon to contribute, it can lead to them feeling left out or intimidated.

The issue is not just about being able to understand what's being said, but also about the sense of belonging among new hires. Patel estimates that a significant portion of Cisco's workforce could leave due to feelings of isolation and exclusion caused by unnecessary acronyms.

To put this into perspective, if 5% to 10% of workers leave the company each year, which is a conservative estimate considering the average attrition rate in the US was 13% between 2024 and 2025, it could mean around 9,000 new employees joining Cisco annually. Over three years, that would be approximately 27,000 new faces, making up nearly one-third of the company's workforce.

New hires at Cisco have a steep learning curve when it comes to deciphering company-specific terminology used in meetings.

Many struggle to ask for clarification on unfamiliar terms, feeling self-conscious about appearing uninformed or intrusive. As a result, they often remain silent and risk missing important information.

This phenomenon is attributed to the widespread use of colloquial acronyms that are not universally understood within the company. The divide between those who know what these abbreviations mean and those who don't can lead to communication breakdowns and inefficient discussions.

To address this issue, Cisco's leadership has introduced a policy allowing new hires to interrupt meetings if they feel the conversation is unclear or confusing.

Cisco's leadership has acknowledged that meetings can sometimes be ineffective due to unclear communication. To address this issue, new hires are now allowed to interrupt meetings if they feel the conversation is confusing or unclear. This policy aims to prevent misunderstandings and ensure everyone is on the same page.

Other companies have also implemented unique meeting cultures to foster effective communication. Amazon's founder, Jeff Bezos, has been known for his unconventional approach to meetings. Instead of using PowerPoint presentations, he requires attendees to read a six-page memo in silence before discussing its contents. This allows everyone to be informed and participate in elevated discussions.

This approach is not the only unusual meeting culture in the corporate world. United Airlines' CEO, Scott Kirby, has implemented strict time limits for meetings, capping them at four hours per day. He encourages his staff to keep these sessions brief and conversational, with minimal use of slides or presentations.

AT&T's John Stankey also emphasizes the importance of preparation before attending a meeting. He expects employees to come prepared with ideas to share or be ready to discuss topics without relying on slides or presentations. This approach aims to promote efficient and productive meetings that yield meaningful outcomes.

These examples demonstrate that companies are experimenting with different approaches to improve the effectiveness of their meetings. By acknowledging potential communication barriers and implementing innovative solutions, organizations can create a more inclusive and productive work environment.

Stanley Stankey, a prominent executive, emphasizes the importance of being prepared and engaged in meetings. He believes that simply observing without contributing is not enough, and instead, one should bring informed opinions to the table.

Jamie Dimon, CEO of JPMorgan, shares similar expectations from his staff. According to him, when attending a meeting, he ensures that he has done all necessary readings beforehand, and expects the same level of preparation from others. If staff members fail to meet this expectation, Dimon will address them personally.

Dimon also stresses the importance of maintaining focus during meetings, stating that using personal devices for non-meeting purposes is considered disrespectful. He makes it clear that he expects full attention from his team when they are in a meeting setting.

Fortune: https://fortune.com/2026/11/11/ciscos-chief-jeetu-patel-terminate-meeting-over-acronyms-jeff-bezos-jamie-dimon-rules/

To achieve this goal, NASA is providing significant financial backing in the form of contracts worth up to $10 billion. The agency has selected eight companies, including SpaceX and Blue Origin, to compete for these lucrative deals. The contracts are designed to facilitate the transportation of equipment and infrastructure to the moon.

The selection process marks a major milestone in the development of NASA's lunar base initiative. According to NASA administrator Jared Isaacman, the Moon Base mission will be built incrementally, with each new stage of construction arriving on the lunar surface as astronauts return from Earth.

As part of this ambitious endeavor, NASA is seeking solutions for two critical challenges: generating power and maintaining communication links between the moon and Earth. These technical hurdles must be overcome if a permanent human presence on the moon is to become a reality.

The intersection of government-funded space programs and private sector initiatives has never been more pronounced than it is today. While NASA's primary objective remains establishing a lunar base capable of supporting long-term human habitation, companies like SpaceX are exploring new revenue streams through lunar-based manufacturing.

NASA's ambitious plans for a permanent lunar base are taking shape, with the agency set to send robotic explorers to the moon's south pole in 2029 to identify suitable locations for future infrastructure.

The robotic missions will lay the groundwork for subsequent phases of construction, which will focus on building power systems, cargo transportation networks, and communications infrastructure between 2029 and 2032. This setup is intended to support long-term operations on the lunar surface, enabling astronauts to conduct more extensive research and paving the way for deeper space exploration.

To overcome the logistical challenges of transporting equipment and supplies to the moon, NASA has enlisted the help of eight private companies selected under its Commercial Lunar Payload Services program. These companies will be eligible to compete for contracts to deliver payloads to the lunar surface over the next decade, using landers to carry scientific instruments, technology, and other infrastructure.

In addition to these new partnerships, NASA is also leveraging existing relationships with private companies to advance its lunar ambitions. The agency has awarded a combined $1.3 billion in contracts to Blue Origin, Impulse Space, and Arrow Science and Technology for separate mission tasks, including verifying communications systems between the moon and Earth.

These collaborations are crucial to NASA's efforts to establish a sustainable presence on the lunar surface, as the agency seeks to make its outpost livable for astronauts by 2032.

NASA is working on several fronts to overcome the challenges of establishing a sustainable presence on the lunar surface. One critical area of focus is reliable communication, which is essential for astronauts and mission controllers to stay connected. To address this issue, NASA has chosen SpaceX to launch satellites aboard its Starship in 2028, with the aim of testing advanced technology that will enable seamless communication.

This collaboration is just one aspect of a broader effort by NASA to secure private sector partnerships for its lunar base initiative. The agency has also awarded contracts to several companies, including those owned by Jeff Bezos' Blue Origin, to develop innovative solutions for power generation and wireless power transfer. Specifically, these companies are working on the Mini-Communications and Solar Tower (miniCAST), a planned system that will provide reliable energy and communication capabilities.

SpaceX is positioning itself to play a significant role in NASA's lunar base initiative, with ambitious plans to establish space operations beyond mere transportation services. According to its filings, the company intends to build factories on the moon using locally sourced materials to manufacture AI satellites. This would not only reduce costs but also alleviate terrestrial resource constraints.

The long-term vision of SpaceX extends far beyond satellite manufacturing. The company envisions exploiting the moon's resources, including rare minerals that could be used in quantum computing systems and nuclear energy production. With an estimated 1 million tons of these valuable materials available on the lunar surface, SpaceX sees a lucrative business opportunity in mining and exporting them to Earth.

SpaceX is now eyeing the moon as an ideal location for establishing a constellation of satellites that can perform artificial intelligence computing in space. This ambitious plan would enable the company to expand its computing capacity without relying on traditional data centers on Earth, which are both power-intensive and controversial.

The lunar base infrastructure will not only serve as a gateway to Mars and space exploration but also position the moon as a strategic industrial and transportation hub at scale. According to SpaceX's plans, this infrastructure has the potential to establish the moon as a key node in future space-based industries.

Fortune: https://fortune.com/2026/11/10/elon-musk-wants-to-build-ai-satellite-factories-on-the-moonand-now-spacex-will-compete-for-nasas-10-billion-in-contracts-to-build-a-lunar-base/

The two were seen together at Jeff Bezos and Lauren Sánchez's wedding festivities in Venice, Italy in June 2025, where they reportedly "hung out and got to know each other. Observers noted that Sweeney seemed intrigued by Braun's charming personality.

After the wedding, videos surfaced on TikTok showing Sweeney and Braun taking a leisurely stroll through the city, fueling speculation about their budding relationship.

Photographs taken at Universal Studios' Halloween Horror Nights in Los Angeles in late September show Sweeney and Braun holding hands, accompanied by her parents Lisa and Steven.

A few weeks later, over Thanksgiving weekend, the couple was spotted at Sweeney's home in the Florida Keys, where they joined friends for a jet ski trip. The relaxed outing provided further evidence of their growing closeness.

As the holiday season progressed, insiders revealed that Sweeney and Braun's romance had evolved beyond casual encounters. A source close to the pair confirmed that things were indeed going well between them.

By January 11, it was clear that Sweeney and Braun felt confident in their relationship, with one insider stating there were no trust issues at play.

As Sydney Sweeney navigates her personal life in the public eye, she is acutely aware of the scrutiny that comes with being a high-profile figure. In an effort to balance her desire for privacy with the demands of fame, Sweeney has adopted a thoughtful approach to sharing her relationships with the world.

When asked about her decision-making process when it comes to going public with a relationship, Sweeney emphasized the challenges of navigating love in the spotlight. She noted that being in her 20s and still figuring out what love looks like can be daunting, especially when millions of people have strong opinions on the matter.

Sweeney's decision to go public with her relationship appears to be well-timed, as evidenced by a recent sighting of her and Scooter Braun taking a leisurely stroll in Los Angeles. The pair was seen chatting and holding hands on February 12, sparking rumors about their budding romance.

Footage from Stagecoach has been making the rounds online, showing the couple in a lighthearted moment during the country music festival.

In the clip, Sweeney is perched on Braun's shoulders as they watch Langley perform on stage, suggesting a relaxed and playful dynamic between them.

The video has only added fuel to the ongoing speculation about their relationship status.

Sweeney marked her first grid post featuring Braun with photos from Stagecoach on May 1. She captioned the Instagram post cowboy kind of weekend ♥️, hinting at the fun times they shared together at the festival.

This was followed by another significant development, as Braun spoke publicly about their relationship in an episode of Second Thought with Suzy Weiss and The Free Press on May 28.

He revealed a clear preference for his current romantic situation, saying I'm biased, I like it".

On May 30, sightings of the couple were reported in New York City. They were seen walking hand-in-hand twice that day - once in the afternoon and again in the evening.

Sweeney later posted photos of their outing to her Instagram Stories, including a picture taken at a basketball game where they were both wearing matching blue-and-orange jackets inspired by the Knicks.

In June 2026, Braun publicly expressed his affection for Sweeney in a video shared on Instagram by Steve Rifkind after the New York Knicks won the NBA championship that year.

Sweeney also marked Braun's birthday on June 18 with photos of them dancing together on her Instagram Stories.

In recent weeks, Sydney Sweeney has been sharing glimpses into her life in New York City, where she has been spending time with friends, family, and Scooter Braun.

On Friday, November 6, she posted photos of a fun-filled day out, which included a playful moment captured on camera as Braun pretended to be the Headless Horseman from Washington Irving's classic tale.

Elle: https://www.elle.com/culture/celebrities/a65993605/sydney-sweeney-scooter-braun-complete-relationship-timeline/

The Desperate Housewives star received $50 million from Bezos two years ago, and since then she has been working on various projects that aim to create positive change. According to Longoria, one of the biggest myths surrounding philanthropy is that it requires a significant amount of wealth to have an impact.

Longoria believes that this notion is misguided, as true impact comes not from how much money one has, but rather from how they show up and get involved in their community. She emphasizes that everyone can make a difference, regardless of their financial situation.

In her view, the most overlooked form of change occurs at street level, where individuals can make a tangible difference by supporting local businesses, sharing their skills, or simply being there for others. Longoria stresses that this kind of support is just as valuable as large-scale donations, and it's something that anyone can offer.

As an example of her own commitment to giving back, Longoria has partnered with Lenovo to mentor small-business owners through the tech company's initiative. This move reflects her efforts to empower entrepreneurs and provide them with the resources they need to succeed.

Longoria has been running her foundation since 2012, working towards improving educational and entrepreneurial opportunities for Latinas in the US.

In addition to this initiative, she also founded Eva's Heroes, a charity that provides support to young adults with intellectual special needs.

The Courage and Civility Award was launched by Jeff Bezos and his wife Lauren Sánchez Bezos in 2021, recognizing individuals who make significant contributions to society. This prestigious award has been given to notable figures such as Van Jones, José Andrés, and the late Dolly Parton.

Receiving this honor is not just about the financial support, according to Longoria, but rather about the trust and responsibility that comes with it. She emphasized how being recognized by Bezos and his wife has made her more intentional in her advocacy efforts.

Longoria's experience receiving the Courage and Civility Award has enabled her foundation to create lasting impact through strategic giving. The award has allowed her to continue investing resources into communities and causes she cares deeply about, including supporting Latina entrepreneurs and expanding access to education.

In addition to her philanthropic efforts, Longoria's experience highlights a broader theme in charitable giving: the perception that one needs wealth or fame to make a meaningful impact.

This notion is challenged by the Giving Pledge, an initiative co-founded by Bill Gates, Melinda French Gates, and Warren Buffett. The pledge asks ultra-high net worth individuals to commit at least 50% of their fortunes to philanthropy.

Despite its high-profile backing, however, the number of signatories who have actually fulfilled the pledge is remarkably low. Fewer than ten individuals have met this commitment, with many others fulfilling it only after their deaths.

According to Liz Baker, CEO of Greater Good Charities, this lack of progress is a major obstacle in addressing global problems. Baker's organization has distributed over $1 billion in impact across 121 countries since 2006 and emphasizes the importance of community-based giving.

Baker argues that individuals don't need to wait for billionaires to solve world issues; instead, they can make a difference by contributing what they can to their local communities.

Individuals can contribute meaningfully to their communities without requiring vast wealth or resources. Baker emphasizes that everyone has something valuable to offer, whether it's time, skills, or expertise.

Even a small amount of time, such as one hour a week, can make a significant difference when directed towards solving a community problem. Local nonprofits often rely on volunteers and support from their communities to carry out their work.

Fortune: https://fortune.com/article/billionaire-jeff-bezos-gave-eva-longoria-admiral-behind-osama-bin-ladens-capture-100-million-she-says-you-dont-need-wealth-to-give-back/

Jassy's advice to young people is not to shy away from the rapidly changing landscape brought about by AI, but rather to learn how to harness its power effectively. He has cautioned against allowing technology to replace critical thinking and judgment skills that remain essential for success in any field.

The Amazon CEO recently shared his thoughts on AI with an audience, stating that young people cannot avoid or wish away the impact of this technology. Instead, they must adapt and learn how to use it to their advantage. Jassy emphasized that AI will have a profound effect on every aspect of life and work.

Jassy took over as Amazon's CEO in 2021, succeeding Jeff Bezos, and has since led the company to become the top-ranked business on the Fortune 500 list. His own salary last year was $365,000, but his focus remains on guiding Amazon's trajectory in an increasingly AI-driven world.

To thrive in an increasingly AI-driven world, young people from all walks of life must learn to harness its power and experiment with its capabilities.

Jassy stressed that embracing AI is not limited to aspiring tech professionals; rather, it's a skillset that can benefit individuals across various industries and backgrounds. He encouraged young people to educate themselves on how to use AI, step out of their comfort zones, and explore its potential in their daily lives and work routines.

As an example, Jassy pointed to business schools where tedious preliminary work is often eliminated by AI. This technology can automate tasks such as reading, research, and note-taking, freeing up individuals to focus on more advanced topics.

AI-generated content can be easily identifiable due to its unnatural flow, with pieces not quite fitting together, according to Jassy.

Amazon's CEO Andy Jassy emphasizes the importance of human judgment and ingenuity when working alongside AI technology. He believes that while AI can be a valuable aid, it is essential to maintain critical reasoning and thinking skills in all endeavors.

Jassy's sentiments are echoed by industry leaders who advocate for finding a balance between leveraging AI tools and preserving individual thought processes. Billionaire entrepreneur Daniel Lubetzky is one such proponent of critical thinking, highlighting its growing demand across various workplaces.

According to Lubetzky, the unique creativity that humans possess cannot be replicated by AI alone. He encourages young people to cultivate their curiosity, critical thinking, and creative abilities in order to stand out and achieve success. By doing so, they will not only remain relevant but also thrive in an increasingly automated landscape.

To stay ahead in an increasingly automated world, young people should focus on developing skills that complement AI, rather than trying to outrun it. Amazon's leadership emphasizes the importance of this approach.

In particular, studying history and philosophy can help individuals question assumptions and think critically about complex problems. This is a key takeaway from Andy Jassy, who advises Gen Z to ask "why" repeatedly and delve deeper into sources to develop a valuable skillset.

By cultivating these skills, young workers will be better equipped to adapt to the changing job market and thrive alongside AI. This approach will enable them to remain relevant and valued in their careers, rather than being replaced by automation.

Fortune: https://fortune.com/2026/10/26/amazon-ceo-andy-jassy-gen-z-advice-ai-era-critical-thinking-soft-skills-writing/

The docking exercise, which will take place in orbit around Earth, is a crucial step towards establishing a sustainable presence on the lunar surface. NASA Administrator Jared Isaacman confirmed that the agency is still committed to its ambitious timeline for returning astronauts to the moon. The Artemis III mission is scheduled to last two weeks and marks an important milestone in the US space program.

The success of Artemis III will pave the way for the next major mission, Artemis IV, which aims to send astronauts to the lunar surface by 2028. This will be the first time humans have set foot on the moon since the Apollo era. NASA officials have emphasized that they will keep their options open before choosing between SpaceX and Blue Origin for the Artemis IV lunar lander.

The "new space race to land astronauts on the moon is heating up, with China now a major competitor in this arena. According to Isaacman, the competition will be much closer than it was during the Apollo era due to past years of slow progress.

NASA is stepping up its pace to meet the ambitious deadlines set for its lunar missions, eliminating unnecessary bureaucracy and mobilizing its workforce around the clock. The space agency is drawing inspiration from its past achievements, specifically the Apollo era, when 24 astronauts flew to the moon and 12 successfully landed on it between 1968 and 1972.

This approach, which NASA knows well, involves adopting a sense of urgency and intensity similar to that of the Apollo program. It's not just a matter of applying new management techniques or using trendy buzzwords, according to Isaacman. Instead, it's about tapping into the agency's own history and experience in achieving remarkable feats.

The lunar missions will see three NASA astronauts and one Italian colleague blast off aboard the Orion capsule for docking practice with two private landers. Blue Origin's Blue Ghost and SpaceX's Starship are scheduled to be launched next summer, with Orion docking first with Blue Ghost at an altitude of 270 miles above Earth. The mission requires precision timing, with a total of three launches taking place in quick succession from Cape Canaveral.

Orion will then dock with the second lander in a slightly lower orbit, marking a critical phase in the mission. NASA's associate administrator, Amit Kshatriya, has expressed his enthusiasm for the upcoming endeavor, describing it as pretty awesome for rocket enthusiasts.

The first launch for NASA's planned moon base near the south pole of the Moon is expected by the end of the year. This lunar landing mission will be an attempt to redeem a previous failed endeavor in 2024 by a Pittsburgh company, which will aim for the south polar region with a rover and other experiments this time around.

To accelerate progress and minimize risks, NASA officials have outlined plans for future missions, including sending more landers, rovers, and orbiters. By the time the first Artemis moonwalkers arrive, their space vehicle will already be waiting for them on the Moon's surface, according to officials.

As part of these efforts, NASA astronauts will wear specially designed spacesuits, known as sortie suits, which are lighter and less complex than those currently under development by Axiom Space. These new suits will be tested on the International Space Station next year, marking an important step towards establishing a long-term human presence on the Moon.

The ambitious nature of this endeavor has been acknowledged by NASA astronaut Frank Rubio, who is part of the Artemis III crew. According to Rubio, It is incredibly ambitious, and while acknowledging the challenges ahead, he expressed confidence in America's capabilities, stating One thing I’ve always believed and learned is don’t bet against America."

Fortune: https://fortune.com/2026/10/24/elon-musk-spacex-jeff-bezos-blue-origin-lunar-landers-earth-orbit-docking-nasa-artemis-moon-progam/

The property's luxurious features and prime location have led agents and sources to speculate that the buyer is none other than Jeff Bezos, who already owns a compound in Indian Creek known as "Billionaire Bunker." This $237 million complex spans over 300 acres of man-made land and has attracted numerous high-net-worth individuals.

Despite the lack of confirmation from Bezos or his representatives, industry insiders believe that routing purchases through LLCs is becoming increasingly common among the ultrawealthy. According to Ken DeLeon, founder of DeLeon Realty, this practice is designed to shield the principal owner's identity, even if someone digs into ownership records.

Bezos' potential acquisition of this beach house would place it within a 30-minute drive from his existing compound in Indian Creek. While owning multiple homes may seem redundant for some, Mendel Fellig, founder of the Mendel Fellig Group at Compass, suggests that buyers at Bezos' level often prioritize convenience and accessibility.

The $69.5 million beach house is part of a larger trend where wealthy individuals seek to maintain a low public profile. By using LLCs and trusts, they can conceal their identities and protect their assets from unwanted attention.

Industry experts point out that this practice has become more prevalent in recent times, with the ultrawealthy recognizing the potential risks associated with public visibility. As the debate surrounding Bezos' possible acquisition continues, one thing is certain, the allure of luxury properties remains a strong draw for high-net-worth individuals.

The allure of luxury properties shows no signs of waning for high-net-worth individuals.

One reason for this enduring appeal is the desire to combine existing residences with direct access to private stretches of beach. Golden Beach in Miami is a rare location that can offer such exclusive waterfront experiences, making it an attractive addition to any portfolio.

The recent sale of a $69.5 million beach house in Golden Beach has set a record for single-family homes in the area. This property boasts seven bedrooms, 12 bathrooms, and extensive amenities including a guest house, pool, spa, and over 100 feet of waterfront space.

As buyers seek to enhance their lifestyle with unique residential experiences, acquiring multiple properties becomes an attractive strategy. By owning a portfolio of homes, these individuals can secure exclusive properties that are increasingly difficult to replicate or replace in the market.

The expansion of South Florida's billionaire buyer pool has contributed to this trend, with international business owners, hedge fund executives, and technology founders among those quietly acquiring valuable real estate in the region.

The affluent communities of South Florida have witnessed a surge in high-end real estate transactions, driven by limited inventory and intense demand from wealthy buyers.

As a result, properties are changing hands quickly, with some sellers seeing significant gains in a short period. Fellig shares an example where one client purchased a home for $30 million and received a subsequent offer of $35 million just a month later.

The rarity of comparable listings in these exclusive neighborhoods has created a dynamic where even higher offers may not necessarily translate to more buying power for the seller. This is because there are limited alternatives available, leaving owners with few options if they choose to sell.

Fellig cautions against reading too much into headline sales, warning that sellers' expectations can become inflated when they see high-profile transactions in their neighborhood. However, these heightened expectations may not necessarily be reflected in the actual market value of neighboring properties.

This phenomenon is particularly relevant for owners who are considering selling or upgrading their properties in response to perceived changes in market values. Fellig advises them to keep a level head and avoid making decisions based solely on what others have achieved in similar transactions.

Despite the current economic uncertainty, demand for luxury properties in Miami remains strong, according to Jay Roberts, CEO of Prosper Group and developer of Bugatti Residences Miami. He attributes this trend to buyers fleeing high-tax states and international investors seeking stability.

Roberts also points to significant corporate and institutional investment in the area, including Carnegie Mellon's planned Miami campus, which is being funded with a $2 billion contribution from Ken Griffin's record-breaking $3 billion gift. Roberts believes that Miami is still in its early stages of a growth cycle that will continue for decades, attracting high-net-worth individuals who are increasingly drawn to the city.

Fortune: https://fortune.com/2026/10/22/jeff-bezos-reportedly-bought-69-5-million-miami-beach-house-near-his-237-million-compound/

Not everyone is willing to pay up, however. Some high-net-worth individuals have already taken steps to avoid the proposed wealth tax by leaving the state ahead of the cutoff date. Google co-founder Larry Page, worth an estimated $292 billion, has been one such individual.

Page's ties to California have been significant, with a long history dating back decades. However, following the introduction of the wealth tax proposal, he began disentangling himself from the state. His family office, Koop, was converted out of California and incorporated in Delaware in late December.

This move was not an isolated incident, as several other organizations linked to Page also underwent similar relocations. Flu Lab LLC, One Aero, and Oceankind were all incorporated in Delaware during the same period, having previously been based in California.

As tech billionaires continue to flee California's high cost of living and increasing taxes, they're finding a welcoming haven in Miami, Florida.

Amazon founder Jeff Bezos is one such example, having left Seattle for Miami in late 2023, where he later sold his Hunts Point mansion for a record-breaking $63 million. He now resides with his wife Lauren Sánchez Bezos in an impressive Miami compound valued at $237 million.

In Washington state, lawmakers have responded to the exodus by passing a 9.9% tax on household income above $1 million, which will be put to a public vote on November 3rd. This move has likely contributed to the decision of other high-profile individuals to leave California for Florida's more favorable tax climate.

Former Starbucks CEO Howard Schultz is another notable figure who has made the switch from Seattle to Miami, reportedly purchasing a penthouse apartment in the city for $44 million. He cited his desire to be closer to his family and enjoy the sunshine of South Florida as reasons for his move.

Google cofounder Sergey Brin, venture capitalist Peter Thiel, and Miami developer Robert Rivani have also made the transition from California to Florida, with Rivani describing the lack of income taxes in the state as a "huge boon" for him.

The influx of wealthy individuals leaving California has raised concerns about the potential impact on the state's tax revenues. Many of these high-net-worth individuals are relocating to Florida, where they can take advantage of lower or no income taxes.

One reason for their reluctance to leave California is their strong attachment to the state, with many preferring not to relocate despite the financial benefits of doing so. As one Compass agent noted, these individuals have worked hard to accumulate their wealth and prefer to keep it in their pocketbooks rather than surrendering a significant portion of it to taxes.

The departures of prominent figures such as Larry Page and Travis Kalanick are expected to cost California's Prop 40 initiative nearly $29 billion in tax revenue. This is a significant blow, considering the measure was projected to raise around $100 billion for the state.

Despite these challenges, opponents of Prop 40 have been active in their efforts to block it, spending over $187 million to fight the measure, compared to just $32 million from supporters. The outcome of this battle remains uncertain, with even a potential victory for Prop 40 likely to be subject to legal challenges.

Fortune: https://fortune.com/2026/10/20/larry-page-left-california-before-its-billionaire-tax-cutoff-and-spent-173-million-on-miami-mansions-hed-avoid-nearly-15-billion-if-it-passes/