Do people move solely because of property taxes? They rarely do unless they are in financial distress. So I'd say: Give it a try.
Billionaires tend to have multiple properties in multiple states/countries. This is more a residency issue and probably low friction for them to change states personally. The thing holding back would be where their business and employees are located.
If they're not paying their fair share of taxes in the state anyway… then okay, goodbye, I guess?