Nevada
Billionaires are fleeing California for Nevada — and not for the nightlife
The most expensive condo sale in the Las Vegas area closed in early January for $21 million. If the sale of the 5,000-square-foot penthouse about 15 miles from the Las Vegas Strip had closed just a little more than a week earlier, it potentially could have saved the buyer a few hundred million dollars.
“He was looking for a while, and at the last minute, there was a little bit of a hiccup,” real estate agent Ivan Sher told Business Insider of the sale. “He was actually even under contract significantly before then.”
That “he” is billionaire Don Hankey, the chairman of Hankey Group and a lifelong Californian worth a reported $8.2 billion.
Hankey is one of a handful of Californians who have decided leave the state due to the proposed Billionaire Tax Act — a bill that would subject California residents worth more than $1 billion to a one-time tax worth 5% of their assets. For someone like Hankey, that’s about $410 million.
“I just felt a little bit like I wasn’t wanted,” Hankey told Forbes of why he chose to leave California.
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While Hankey may still be on the hook for the billionaire tax — the bill will be on the ballot in November 2026 and would retroactively tax individuals who were living in California on January 1, 2026 if passed — Nevada has welcomed Hankey and other high-net-worth individuals with open arms.
For the ultrawealthy ready to ditch California, but not the West Coast, Nevada offers a happy medium. With tax perks similar to Florida’s — no income tax and low property taxes — Nevada is slowly becoming the next nerve center for the rich.
Nevada’s luxury market is growing
Sher, who repped Hankey’s $21 million penthouse sale on both sides as the founder of real estate agency IS Luxury, said that while Las Vegas’ luxury market was already heating up, the news out of California kicked it into a higher gear.
“If people were to ask me what percentage of my buyers were from California, I’d say probably about 25%, and then for the first few years after COVID, that number was closer to 80%,” Sher said. “As soon as that billionaire tax was proposed, the exodus began again — but at a much higher level.”
The Las Vegas metropolitan area had about 331 millionaire households in 2019, according to RentCafe data. In 2023, that number jumped 166% to 879 households.
Natalia Harris has been selling ultra-luxury real estate in the Las Vegas area for the last five years. In that time, she said the definition of “ultra-luxury” has changed in the Silver State.
“Back then, a home that was $10 million was ‘Wow’ for Vegas — that was at the top of the price point,” Harris told Business Insider. “Now we have three new listings that we just brought to market last week that are all between $11 million and $20 million.”
Zain Aziz, the founder of technology firm Atom and one of Harris’ high-net-worth clients, moved to the Las Vegas suburb of Henderson, Nevada, in 2025. He said leaving the high taxes and hectic lifestyle of Silicon Valley behind was bittersweet.
“You don’t really want to get punished if you do good and you create more jobs,” Aziz said. “I believe the Las Vegas Valley has become more and more what’s synonymous with what California used to be — which was free-spirited and ‘Come and achieve the impossible,’” he added.
Aziz isn’t the only one taking his assets elsewhere. Google cofounder Sergey Brin recently spent $42 million on a Lake Tahoe home on the Nevada side, according to Bloomberg. Larry Page, Google’s other cofounder, found a tax haven on the East Coast, buying two properties totaling about $173 million in South Florida.
Billionaire Larry Ellison, who owns homes across the country and the world, bought a handful of properties in Lake Tahoe near the California-Nevada border. He also recently sold his San Francisco home for $45 million in the largest sale in the area in 2025, according to the San Francisco Standard.
Ultra-rich Californians would rather do business one state over
Has California lost its juice?
Aziz, who also moved his business to Nevada, said the culture that built California giants like Oracle and Google no longer exists there — it’s budding in the next state over.
“There’s no longer that innovative culture, and I believe where it exists is Vegas,” Aziz said. “I think that a lot of people from California who are chasing that are going to move to Vegas primarily because of the proximity to California.”
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For lifelong Californians not fully ready to leave the state’s sunny weather and stellar beaches behind, Las Vegas is a less than two-hour flight to Los Angeles or San Francisco.
It also helps that certain areas of Nevada can offer a taste of home. Harris described the MacDonald Highlands neighborhood of Las Vegas, which is about 15 minutes from the Las Vegas Strip, as the Hollywood Hills of Vegas, offering stunning mountain views that give way to a sparkling cityscape beneath.
For Aziz, the developments in Nevada represent promise.
“This will become the hub for the wealthiest,” he said. “The city wants that.”
Growing DNA databases continue to unlock decades-old cold cases. How the DNA Doe Project helped to identify remains 37 years later.
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First team
Ty Ahlstrom, Centennial – The junior had 373 digs and was a first-team 5A all-state libero for the 5A state runner-up.
Evan Ditmar, Palo Verde – The senior first-team 5A all-state outside hitter had 187 kills with a .328 hitting percentage.
Luke Hashimoto, Arbor View – The senior had 302 digs and 37 aces for the 5A state champion.
Porter Hughes, Basic – The senior had 373 kills with 218 digs and 38 aces for the 5A state semifinalist.
Lincoln Larson, Centennial – The senior was the 5A state player of the year and was second in the state with 460 kills, on a .371 hitting percentage, and added 283 digs and 72 aces for the 5A state runner-up.
Jagger Mendenhall, Palo Verde – The senior first-team 5A all-state setter had 414 assists.
Risden Miller, Arbor View – The junior led the 5A state champion with 279 kills and added 173 digs.
RJ Regalado, Centennial – The senior had 723 assists and was a first-team 5A all-state.
Max Romzek, Shadow Ridge – The junior had 152 kills on a .437 hitting percentage with 66 blocks for the 5A state semifinalist.
Mateo Salomon, Shadow Ridge – The sophomore had 169 kills with a .374 hitting percentage for the 5A state semifinalist.
Keagan Sugden, Arbor View – The junior setter led the state with 1,129 assists for the 5A state champion.
Mau Tuiaana, Centennial – The senior had 162 kills on a .397 hitting percentage, 92 blocks and 147 digs for the 5A state runner-up.
Kenyon Wickliffe, Arbor View – The senior had a .477 hitting percentage with 176 kills and 46 blocks for the 5A state champion. He is committed to Cal State Northridge.
Jacob Wienke, Desert Oasis – The senior was the 4A Mountain League player of the year led the Diamondbacks with 290 kills and 154 digs on their way to the 4A state title.
Coach of the year
Nicole Adarme, Arbor View – Guided the Aggies to the Class 5A state title, the program’s first boys volleyball title.
Second team
Graham Blanchard, Arbor View – The senior had 179 kills, 32 aces and 136 digs for the 5A state champion.
Zelworth Chavis, Liberty – The 4A Lake League player of the year had 731 assists and 64 aces for the 4A state semifinalist.
Zavier Coleman, Shadow Ridge – The senior had 139 kills and 136 digs and was a first-team 5A all-state selection.
Andrew Gutierrez, Palo Verde – The junior had 153 kills 35 aces and was a first-team 5A all-state outside hitter.
Ty Hardy, Basic – The senior had 274 kills and 257 digs for the 5A state semifinalist.
Ty Harper, Shadow Ridge – The senior had 211 digs and was a first-team 5A all-state selection for the 5A state semifinalist.
Kaleb Law, Mojave – The senior was the 4A Sky League player of the year and was second in the state with 436 kills on a .457 hitting percentage with 69 blocks, 55 aces and 249 digs to help the Rattlers reach the 4A state semifinals.
Oakland Liugalua, Cadence — The freshman had 406 kills on a .396 hitting percentage with 154 digs and 57 aces.
Gavin McColl, Centennial – The senior had 154 kills on a .333 hitting percentage with 94 blocks for the 5A state runner-up.
Brad Rappleye, Sky Pointe – The junior was the 4A Desert League player of the year and had 187 kills and 78 blocks to help the Eagles reach the 4A state title game.
Levi Randall, Boulder City – The junior had 149 kills with a .477 hitting percentage and 92 blocks for the 3A state champion.
Yeheshua Ruiz, Foothill – The senior had 157 kills with a .426 hitting percentage with 70 blocks and was a first-team 5A all-state selection.
Preston Van Beveren, Boulder City – The senior had 137 kills on a .457 hitting percentage with 99 blocks, 27 aces and 141 digs for the 3A state champion.
David Zwahlen, Boulder City – The 3A state player of the year had 232 kills with a .364 hitting percentage, with 337 digs and 70 aces.
Honorable mention
Aaron Bagalawis, Mojave
Treyden Baltazar, Coronado
Kaden Co, Liberty
Jayden Elliazar-Keiki, Shadow Ridge
Ben Fife, Palo Verde
Dallas Hashimoto, Sky Pointe
Jacob Hutchings, SLAM! Nevada
Tucker Jenkins, Sky Pointe
Makai Kelley, Sky Pointe
Gibson Lamoreaux, Boulder City
Quintrell McGee, Mojave
Zion Moore, Shadow Ridge
Hunter Perkins, Cheyenne
Gunnar Robinson, Arbor View
Thomas Rowley, Coronado
Easton Smith, Desert Oasis
Spencer Stolworthy, Moapa Valley
Cooper Swenson, Centennial
Parker Teal, Centennial
Toller Trummell, Foothill
Jordan Valdez, Liberty
Owen Wenger, Arbor View
Luke Wilkinson, Coronado
Contact Alex Wright at awright@reviewjournal.com. Follow @AlexWright1028 on X.
Marner scored 16 seconds later, when his backhanded shot from near the wall in the right face-off circle was inadvertently knocked into the net by Carolina defenseman Sean Walker, giving Vegas a 2-0 lead.
Marner made it 3-0 at 14:32, 11 seconds after he hit the right post on a breakaway. Brayden McNabb kept the puck in the zone and found Marner low behind all five Carolina skaters, where he scored off a forehand-to-backhand deke for his second goal in 3:50 and Vegas’ third in 4:06.
“‘Nabber’ just coming in on that pinch, just the patience and play he made to me to allow me to get around the net was phenomenal,” Marner said.
Marner’s third goal came off another breakaway. He got loose past Alexander Nikishin, took a pass from Hertl, skated into the right circle and made it 4-0 with a far-side slap shot that went in off Andersen’s blocker at 16:52.
Bussi stopped his penalty shot early in the third to keep it a 4-0 game.
“I’m thinking we need to score that and I’m not lying to you because they came back and scored four,” Tortorella said. “I’m thinking we need another one just to keep on going.”
Martinook made it 4-1 at 7:03, cashing in on a strong forecheck by Seth Jarvis before getting hit from behind by Cole Smith.
“I just think we needed something good to happen,” Martinook said.
Hall cut the deficit to 4-2 at 7:29. Sebastian Aho stole the puck from McNabb in the offensive zone and from below the right circle sent a backhanded pass across to Hall, who scored from the far post.
Staal made it 4-3 at 7:42, scoring from the lower part of the left circle on a deflection of Jaccob Slavin’s shot off the left-wing half-wall.
Carolina also scored three goals on consecutive shots in the third period of Game 2 on Thursday.
Svechnikov tied it 4-4 at 18:18, scoring a power-play goal with Bussi pulled for the extra skater to make it a 6-on-4 situation. After the puck went to the net and got loose, Carolina forward Nikolaj Ehlers was pushed in as Svechnikov found it in the slot and shoved it into the net.
“I’ve experienced a lot of games in playoffs. I haven’t experienced one like this,” Tortorella said. “We could do nothing wrong in the second period and probably did everything wrong in the third period.”
But the game didn’t end there. It continued for 25 minutes and 38 seconds of overtime, until Theodore did the right thing, got the bounce and the reward.
“Not how we drew it up,” Vegas forward William Karlsson said, “but we’ll take it.”
NOTES: Carolina forward William Carrier left the game in the second period with an upper-body injury and did not return. Brind’Amour did not have an update on his status. … The Hurricanes lost in overtime for the first time in the playoffs this season (6-1). … McNabb played with a full cage because of facial injuries he sustained in the first period of Game 2, when he was struck in the face by an Ehlers slap shot. The defenseman played 35:47, finished with two assists, including the setup for Theodore’s winner, and was plus-3.
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