# A Silicon Valley Millionaire’s Case for a Wealth Tax: „You Don’t Need More Than $30 Million”
Scott Ellis, a 55-year-old millionaire and member of the advocacy group Patriotic Millionaires, argues that extreme wealth accumulation is damaging to society and that California’s proposed billionaire wealth tax is a necessary, though insufficient, step. A former tech executive and nonprofit leader, Ellis believes that financial success beyond a certain point—which he pegs at $30 million in household wealth—does not improve quality of life and instead distorts democracy. He views taxes as the essential price for a civil society and advocates for a dramatically more aggressive federal tax on excessive fortunes.
Ellis, who came to Silicon Valley for Stanford business school and stayed for the dynamism and lifestyle, built his wealth alongside his wife’s successful career in consumer internet companies like Yahoo and Google. His perspective on fairness was shaped by his studies in sociology and poverty, leading him to volunteer and eventually lead education nonprofits. He observes that many in Silicon Valley, while talented, are focused on accumulating unspendable wealth rather than building a better society. He counters the argument that wealthy individuals will flee California due to tax increases, noting that the state’s talent pool, amenities, and climate are enduring draws.
The core of Ellis’s argument is a moral and practical critique of extreme inequality. He emphasizes the role of luck in success and points to the hard work of those with modest means. His proposed solution is a federal annual wealth tax of 50% on all household wealth exceeding $30 million, which he calculates is more than enough to secure a luxurious, worry-free life for multiple generations. He sees California’s current proposal as a positive shift in conversation, moving past distractions about tax flight to address the urgent needs of millions struggling with poverty and healthcare costs. Ellis concludes that he is proud to pay his taxes and has no plans to leave the state he now calls home.
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