Funding
California Billionaires Fund Proposals to Oppose Wealth Tax
California’s billionaires have collectively contributed $612 million to state elections, with a significant portion aimed at opposing Proposition 40, a proposed wealth tax. Notable contributors include Sergey Brin, Eric Schmidt, and L. John Doerr. The opposition effort also supports Propositions 41 and 42, which could potentially nullify Proposition 40 if they receive more votes. The upcoming election in November 3 will be crucial as developments unfold, with key political figures and the results of Propositions 41 and 42 playing a decisive role in the outcome.