Billionaires Flee to Tax Haven Just Across the California Border

Driving past a main drag dotted with dated strip malls and towering pine trees, little suggests that the Nevada town of Incline Village is more than a typical mountain outpost catering to ski bums and middle-class vacationers.

But a short walk away lies a ribbon of Lake Tahoe shoreline that’s a billionaires’ playground.

Homes lining the shore of Incline Village, seen from the boat of local real estate agent Tim Lampe.

Photographer: Camille Cohen/Bloomberg

There’s Larry Ellison’s sprawling wooded estate tucked behind a gated driveway on coveted Lakeshore Boulevard. Down the road, venture capitalist and SpaceX investor Steve Jurvetson recently bought a compound for $125 million, a record for the region. A few miles west, in Crystal Bay, Sergey ...