The tax’s opponents have out-raised its supporters eight to one, though polls have suggested the proposal is still in the running.

cross-posted from: https://slrpnk.net/post/43627802

The 16 donors, whose ranks included Bay Area investor John Doerr and Stripe CEO Patrick Collison, gave a total of $44.5 million to the group, Building a Better California, between Sept. 29 and Oct. 2, according to the committee’s filings.

Spearheaded by Google co-founder Sergey Brin, the PAC [worth $248 million] has almost single-handedly financed the opposition to California Proposition 40, which would levy a one-time wealth tax of 5% on billionaires to cover federal cuts to healthcare funding

Which as described here by Gabriel Zucman, would bring it back to where it was 31 days ago

The support side raised $31 million while the opposition side raised $259 million as of Oct. 2, 2026.

Also relevant: https://cabillionairetracker.org/