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Ballot measure campaigns raised more than $1.2 billion so far in 2026 and spent a record-high $193 million on signature drives

Welcome to the Thursday, Oct. 29, 2026, Brew.

Ballotpedia · 18h ago

Ballot measure campaigns raised more than $1.2 billion so far in 2026 and spent a record-high $193 million on signature drives

Campaigns supporting and opposing the 164 statewide ballot measures in 2026 raised more than $1.2 billion. Initiative campaigns spent a record $193 million on signature gathering.

Ballotpedia · Oct 27

Four Richest Californians Could Pay 40% of Proposed Wealth Tax as Billionaires Fund Opposition Drive

A proposed one-off California wealth tax could create an estimated $42.8bn liability for four billionaires, although revenue forecasts, residency rules and legal impact remain uncertain.

International Business Times UK · Oct 27

Meta Approves New Non-Voting Stock Class Worth Billions to Zuckerberg — But the Real Price Was an 8-Year Residency Cage

Is Meta's new share class a gift to billionaire CEO Mark Zuckerberg from shareholders? Here's what California's wealth tax has to do with it.

Barchart · Oct 22

Mark Zuckerberg makes deal with Meta to help him pay California billionaire tax, if it passes

Mark Zuckerberg has made a deal with Meta to help him pay a proposed billionaire tax that is on the ballot in California

The Independent UK · Oct 22

Mark Zuckerberg strikes deal with Meta to stay in California amid proposed 5% billionaire wealth tax

Meta CEO Mark Zuckerberg reportedly considered selling his $110 million Palo Alto home and leaving California over a proposed 5% wealth tax on billionaires. He has struck an eight-year deal with Meta to remain in California or where the company is headquartered. The agreement provides non-voting shares to help cover…

The Times of India · Oct 22

Who Are the Billionaires Behind the $304 Million Effort To Defeat California’s Wealth Tax?

A cadre of billionaires and tech elites, including Sergey Brin and Eric Schmidt, is bankrolling the opposition to Proposition 40.

Capital & Main · Oct 22

How tech became the villain of the US midterms

Datacenters, AI and distaste for the billionaires developing it has soured Americans on big tech

The Guardian - US · Oct 22

Billionaires fleeing California could turn a $30 billion tax windfall into a $39 billion loss, Stanford economists warn

Departures have already erased nearly 30% of Prop 40’s tax base, a new NBER paper estimates. The tax’s architects say the math assumes losses that won’t last.

Fortune · Oct 21

As billionaires fight a tax hike, Jensen Huang says paying $8 billion is a ‘privilege’: ‘I’m just afraid of being poor’

As billionaires flee the Golden State, the Nvidia cofounder says he’s happy to stay put and share the spoils of his success: “I am the ultimate American Dream.”

Fortune · Oct 20