As billionaires ditch California, Gen Z is following close behind—the state saw the biggest net loss of young people, many moving to Texas
Source: Fortune ·
As billionaires like Larry Page and Peter Thiel leave California, Gen Z is following suit—they’re moving to more affordable South Carolina and Missouri.
From the source
As ultrawealthy tech founders like Larry Page, Peter Thiel, and Travis Kalanick flee California amid opposition to its proposed billionaire tax, a new report indicates Gen Z is also leaving the Golden State in droves. California recorded the nation’s largest net loss of Gen Z adults in 2024, shedding roughly 58,109 young adults, according to a new LendingTree report analyzing the latest available Census data. Texas was the biggest destination for young Californians on the move. Other states also recorded sizable net gains in nationwide Gen Z migration, including South Carolina, which gained 22,843; Missouri, with 14,063; and Tennessee, with 13,537. Several of these states offer a lower cost of living than many other parts of the country, potentially giving young adults more room to stretch their paychecks. Washington, D.C. was a notable outlier. The nation’s capital recorded a net gain of 13,905 Gen Z adults despite ranking among the more expensive places to live. But the region’s…