Billionaires are fleeing California for Nevada — and not for the nightlife

Nevada is receiving an influx of wealth due to Californians fleeing the state.

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• Billionaires are planting roots in Nevada amid fears of a California wealth tax.
• Nevada, with its generous tax advantages, is welcoming the ultrawealthy with open arms.
• The influx of wealthy people is rapidly changing the state's luxury market.

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...