Silicon Valley Billionaires Launch $87 Million Ad Blitz Against California Wealth Tax
TL;DR Summary
A coalition of billionaires, including Sergey Brin, has reserved about $87 million in California ad time to oppose Proposition 40, a proposed one-time wealth tax on residents with a net worth of $1 billion or more. The advertising campaign, set to begin next month, marks a high-profile clash over the measure and underscores the influence of Silicon Valley wealth in state politics as some billionaires have already relocated or spent heavily in related campaigns.
- Billionaires Prepare $87 Million Ad Campaign to Block California Wealth Tax The New York Times
- California's billionaire tax: What's at risk for the biggest state economy in America CNBC
- California billionaire tax backers work Washington Politico
- A wealth tax in America? Not if Silicon Valley’s billionaires have their way Financial Times
- Billionaires Who Tried to Dodge California Asset Tax May Not Be in the Clear New York Magazine
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