Big Tech Wages War on California's Billionaire Tax
The US tech industry is deploying serious cash and political muscle to reshape California politics in its favor.
California's tech elite aren't just building products anymore — they're building political power. As Governor Gavin Newsom prepares to leave office, the ultra-wealthy are ramping up efforts to kill a proposed 5% billionaire tax and install a tech-friendly successor.
The playbook includes super PACs flush with cash, direct lobbying against regulation, and a coordinated push to ensure the next governor plays nice with the industry. It's a full-court press to keep California's tech boom humming without pesky new tax burdens.
The stakes are massive. A billionaire tax would directly hit the wallets of the people funding these political campaigns. So they're spending big now to avoid paying bigger later.
The message from tech's wealthiest is clear: they'll flex every dollar of influence to keep Sacramento on their side.