Midterm elections 2026: all the news
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Tech billionaires have reportedly donated over $340 million to fight a wealth tax in California.
According to The Guardian, the campaign they’re funding is spending over $1 million per day trying to defeat Proposition 40, which would enact a one-time 5 percent tax on California’s billionaires. Google co-founder Sergey Brin is reportedly the biggest donor, contributing at least $102 million, alongside other tech executives:
The donors to the no campaign are a who’s who of Silicon Valley, including the Palantir co-founder Peter Thiel, former Google CEO Eric Schmidt, DoorDash CEO Tony Xu, Stripe CEO Patrick Collison, crypto magnate Chris Larsen and several prominent venture capitalists.
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