Tech Billionaires Donate Over $340 Million Against California Wealth Tax
According to The Guardian, tech billionaires in Silicon Valley have collectively donated over $340 million to oppose Proposition 40, a proposed one-time wealth tax on the state’s ultra-wealthy. This campaign is reportedly spending more than $1 million per day against the initiative. Among the top donors are Google co-founder Sergey Brin and Palantir founder Peter Thiel, along with other prominent figures such as former Google CEO Eric Schmidt, DoorDash CEO Tony Xu, Stripe CEO Patrick Collison, and crypto investor Chris Larsen. The campaign has drawn significant attention due to its high-profile backers and substantial financial resources. The opposition effort highlights the growing influence of tech leaders in shaping policy outcomes through large-scale political spending.
Topics: California Propositions Political Donations Tech Industry Wealth Tax