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February 3rd, 2026

The Billionaire Tax Battle: CA vs. MO (And How to Pay Less)

  1. The Billionaire Tax Battle: CA vs. MO (And How to Pay Less) Aspen Funds 30:00

California is pushing a wealth tax. Missouri just eliminated capital gains tax. What does that mean for investors?In this episode, Ellis Hammond sits down with Bob and Ben Fraser to break down the billionaire tax battle between CA vs. MO—and how high-net-worth investors adapt. Learn how the wealthy use LLCs, balance-sheet thinking, and smart tax strategy to legally protect and grow their wealth.If you want to pay less in taxes and keep more of your returns, this episode is for you.

Don’t miss the 2026 Macro Economic Outlook—announced in the outro of this episode! Sign up here: ⁠https://aspenfunds.us/2026-macro-economic-outlook/⁠

Have more questions, or want more resources like a tax calculator? Go to ⁠https://investlikeabillionaire.org/⁠  to learn more about our community. 

Check out Ben & Bob’s company and invest along at ⁠https://aspenfunds.us/

Ben Fraser Podcaster

Prior to Aspen, Mr. Fraser was a commercial lender at First Business Bank specializing in government backed loan originations (SBA & USDA), for one of the top SBA lenders in the nation. Prior to that he was a commercial credit underwriter for Crossfirst Bank, personally responsible for underwriting over $125MM in C&I and CRE loans across a variety of industries.

Prior to that, he worked for Tortoise Capital Advisors, a boutique asset management firm in energy infrastructure investments, and helped grow their institutional managed accounts from ~$3BN AUM to ~$7BN AUM. Ben was responsible for responding to all institutional RFPs from interested institutional investors.

Ben completed his MBA from Azusa Pacific University, and his B.S. in Finance from the University of Kansas, graduating magna cum laude.