Tech titans divided over whether to pay billionaire tax or flee California

State residents worth more than $1bn could face one-off, 5% tax to help fund education, food assistance and healthcare

A battle is brewing in California over a plan to tax billionaires - with tech titans divided over whether they should pay up, or flee the state.

Under a tax proposal that could be put to voters this November, any California resident worth more than $1bn would have to pay a one-off, 5% tax on their assets to help cover education, food assistance and healthcare programs in the state.