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Ballot proposes one-time, 5% tax on anyone in state worth more than $1bn and grant a five-year period for payment
Palantir co-founder Peter Thiel has donated $3m to a California lobbying group advocating against a proposed wealth tax that would target billionaires in the state. The seven-figure contribution comes as several ultra-wealthy tech moguls have left or threatened to leave California over the tax.
Thiel, worth some $26bn, made the donation last month to the California Business Roundtable’s political action committee, according to a public disclosure filing which was first reported by the New York Times. A representative for Thiel did not respond to requests for comment.
Source: www.theguardian.com
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