The Billionaire Block: How Wealthy Elites Are Undermining California's Quest for Equality California's proposed wealth tax is facing stiff resistance from some of the state's most prominent billionaires, who have donated millions to anti Proposition 40 committees.
At least four notable figures – Peter Thiel, Chris Larsen, Sergey Brin, and John Doerr – have contributed significantly to the opposition.
The stakes are high for California, which is struggling with stark wealth disparities.