The independent senator from Vermont, who caucuses with Democrats in the nation's Capitol, will appear Feb. 18 to formally kick off the campaign to place a new tax on billionaires on California's November ballot.

The independent senator from Vermont, who caucuses with Democrats in the nation's Capitol, will appear Feb. 18 to formally kick off the campaign to place a new tax on billionaires on California's November ballot.

​These ultra-wealthy individuals have outsized influence on our democratic system—and have actively worked to undermine it.​

Will Billionaires Leave Us Behind?

A coalition of progressives is demanding that California raise taxes to save Medi-Cal coverage for low-income residents after Trump cuts.

Larry Ellison and Larry Page have taken concrete steps to move key business entities out of California as labor groups race to qualify a proposed wealth tax on billionaires for the ballot.

"We chose to live in Silicon Valley and whatever taxes they would like to apply, so be it," Huang said.

Hedge-fund manager Bill Ackman is among the billionaires who have taken issue with the proposal’s idea of taxing the wealthy’s assets.

Is California losing its wealthiest residents? Peter Thiel's Thiel Capital has relocated to Miami, Florida, in a move seen as a direct response to California's proposed 'billionaire tax.' This controversial 5% tax on fortunes over $1 billion is causing concern among tech leaders. As more elite individuals consider leaving Silicon Valley and New York, will Miami become the next innovation hub? Explore the potential impact of this tax on California's economy and the rise of alternative states. #CaliforniaTax #BillionaireTax #PeterThiel #Miami #TechNews #SiliconValley #Florida #Economy #Innovation Published on 2026-01-02T183021.149+0100 Tools used for generation Text Gemini Narator Azure TTS Clips Pexel Rendering Remotion

Bill Ackman, Palmer Luckey, Garry Tan, and more are sharing their opinions on a California billionaire tax proposal.

Is a billionaire wealth tax really “punishment,” or is it a proportional contribution to the public systems that make extreme wealth possible in the first place? From infrastructure and national secur...

Khanna Tells Thiel He Can Leave CA, Ramps Up Push For Billionaire Tax.