Thiel Gives $3 Million to Group Seeking to Block California Wealth Tax
The New York Times••general
Key Points:
- Silicon Valley billionaires are mobilizing financially to oppose a proposed California ballot measure that would tax their wealth, marking a shift from asset protection to active campaigning against the tax.
- Peter Thiel, venture capitalist and Palantir chairman, made a public $3 million donation to Californians Against Higher Taxes, a committee led by the California Business Roundtable, signaling the start of major financial opposition.
- The California Business Roundtable plans to lead a significant campaign to defeat the wealth tax, with opponents estimating more than $75 million may be spent to block the measure.
- The opposition effort is broad, with lobby group president Rob Lapsley indicating outreach to hundreds of donors statewide to fund the campaign against the billionaires tax and
