Tech billionaires are spending over $340 million and $1 million per day to defeat California's proposed 5% wealth tax.

TL;DR: Tech billionaires are aggressively campaigning against California's proposed Prop 40, a 5% wealth tax, raising over $340 million and spending more than $1 million a day to defeat it as the election approaches. https://www.theguardian.com/news/ng-interactive/2026/oct/16/billionaires-fight-california-prop-40 #law #tech #legaltech ⚖️ 🤖 #autosum

Tech billionaires have been dumping hundreds of millions of dollars into the fight against a wealth tax in California. They’ve raised more than 💥$340m, and the campaign they’re funding is spending 💥more than $1m a day to defeat the measure, according to state financial disclosures. https://www.theguardian.com/news/ng-interactive/2026/oct/16/billionaires-fight-california-prop-40?CMP=Share_iOSApp_Other