California’s proposed ‘billionaire tax’ fails to pass

First reported by AP at Mon 10:04 PM · 11 outlets in all

1. Fortune(subscription required)8hSergey Brin’s $102 million helped sink California’s billionaire tax and may block the next oneProposition 42, bankrolled largely by Sergey Brin, bars new state taxes on stocks, business stakes and other assets. Critics say it could reach capital gains.
2. NY Post12hCalifornia’s billionaire tax is dead – but the state’s paid a staggering priceThe “billionaire tax” is officially dead. Voters rejected Proposition 40 by a wide margin, restoring hope for common-sense governance in the Golden State.
3. CNN15hCalifornia voters reject Billionaire tax | CNN Politics
4. PBS NewsHour21hCalifornia voters reject tax on net worth of billionairesThe measure would have imposed a one-time 5% tax on the wealth of Californians whose net worth exceeds $1 billion.
5. New York Times(subscription required)24hFailure of California Billionaire Tax Strikes Blow to Progressive AgendaA wealth tax on billionaires seemed like a political layup. The outcome of a California ballot initiative shows otherwise.
6. Yahoo Finance27hCalifornia's billionaire tax fails, but other 'tax the rich' measures succeeded around the country
7. Yahoo News27hCalifornia's billionaire tax failed, but 'tax the rich' measures succeeded elsewhere
8. NPR28hWhy did California's billionaire tax fail to surf the blue wave?Two economists debate what California's vote on Prop 40 means for the wealth tax movement.
9. ABC News29hCalifornia's Prop 40 'billionaires' tax' measure is rejected, AP projectsThe tax was introduced in response to steep cuts to California's healthcare funding that resulted from the passage of President Donald Trump's "Big Beautiful Bill."
10. TechCrunch34hCalifornia’s proposed ‘billionaire tax’ fails to passCalifornia voters rejected Proposition 40, the one-time 5% tax on billionaires, the AP reported Monday. Tech leaders outspent backers roughly 10 to 1 to defeat it, and the founders and economists TechCrunch interviewed before the vote were split on whether it would have driven out wealthy residents or just trimmed their fortunes.
11. AP35hCalifornia voters reject measure to tax the wealth of billionaires