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California ‘billionaire tax’ makes ballot despite opposition from tech moguls

Wealth tax criticized by billionaires and Gavin Newsom would levy a one-time 5% tax on residents wor...

LATEST NEWS June 18, 2026

California ‘billionaire tax’ makes ballot despite opposition from tech moguls

Wealth tax criticized by billionaires and Gavin Newsom would levy a one-time 5% tax on residents worth over $1bn.

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Wealth tax criticized by billionaires and Gavin Newsom would levy a one-time 5% tax on residents worth over $1bn.

Author: The Guardian

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