California voters reject tax on net worth of billionaires

First reported by TechCrunch at Mon 11:18 PM · 4 outlets in all

1. CNN16hCalifornia voters reject Billionaire tax | CNN Politics
2. PBS NewsHour22hCalifornia 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.
3. ABC News30hCalifornia'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."
4. TechCrunch35hCalifornia’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.