https://lao.ca.gov/LAOEconTax/Article/Detail/265
A tax impacting the top 0.5% of earners would maybe cause someone to move a corporate HQ out-of-state.
That said, based on how SF's Prop C (2018) went, billionaires disagree on whether or not paying more taxes is fair.
https://lao.ca.gov/LAOEconTax/Article/Detail/265