If a lot more of the billionaires leave they’re really in trouble. A few of them like Musk and Larry Ellison of Oracle left, but most are still there. They’re insulated from the worst things going on there. They probably all have their own large electric generators with plenty of fuel and they live well away from the homeless, drug addicts etc.
At some point they could get targeted by lunatic Democrat prosecutors like Trump was. They’d be smart to think about leaving.
I’ve read where the deranged California legislature has been trying to devise a scheme to tax you after you move from the state. Once a Californian, always a Californian.