Business Insider: The California billionaire tax is headed to the ballot. The ultrawealthy are bracing for what comes next.

California built one of the most concentrated wealth ecosystems in the world. A ballot measure this November could change that.

R360 Founding Partner Michael Cole is featured in Business Insider, weighing in on California's proposed billionaire tax and what it means for ultra-high-net-worth families.

The conversation around wealth taxation isn't new to our members, but the stakes are escalating. From liquidity constraints on private company founders to questions of retroactivity and long-term state impacts, the implications extend well beyond a single ballot measure. And R360 families are already preparing.

Read the full article here.