“The billionaires may have bought themselves a temporary victory,” backers said, as California’s billionaire tax failed and a ban on new ones leads.
Technology
California saw the most expensive opposition campaign in its history as funding of political campaigns broke records in the US midterms
Technology
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.