Attendees cheer during an event supporting the California Billionaire Tax Act in Los Angeles on February 18, 2026.
Billionaire-Backed Groups Launch Ad Blitz Against California Wealth Tax
Google co-founder Sergey Brin and venture capitalist Peter Thiel are among the billionaires bankrolling ads against a proposed one-time tax on the wealthiest Californians.
Organizations backed by mega-billionaires, including Google co-founder Sergey Brin and notorious venture capitalist Peter Thiel, have launched an advertising blitz aimed at convincing California voters to oppose a one-time, 5% wealth tax targeting the very richest people in the state.
The two most prominent groups fighting the tax, which will appear on California's November ballot as Proposition 40, are Building a Better California and Californians Against Wasteful Spending and Higher Taxes. The former group, funded in large part by Brin, debuted its first television ad on Tuesday, just the start of what's expected to be a massive propaganda push against the proposed tax.
The New York Times reported that the first ad from Building a Better California "emphasizes that unions representing teachers and firefighters oppose the tax, along with the state’s top politicians, including Gov. Gavin Newsom, a Democrat."
"The ad makes no mention of the billionaires who vigorously oppose the tax," the Times added.
The coalition spearheading the wealth tax campaign is led by Service Employees International Union-United Healthcare Workers West (SEIU-UHW). The tax proposal has won endorsements from the California Federation of Labor Unions, the California Nurses Association, and the California Democratic Party, along with high-profile progressive lawmakers including Rep. Ro Khanna (D-Calif.) and Sen. Bernie Sanders (I-Vt.).
Dave Regan, president of SEIU-UHW, told the Times that supporters of the tax are "not going to try to compete at all with the billionaires on broadcast television." Brin's group is reportedly set to spend more than $90 million on ballot initiatives this year.
Instead, the Times reported, "the union plans to spread its message through text messages, social media, door-knocking and slate mailers, making the most of the powerful endorsements it recently won from the California Democratic Party and the California Federation of Labor Unions."
Last week, the Thiel-backed group Californians Against Wasteful Spending and Higher Taxes launched an online ad that falsely characterized the proposed billionaire levy as "an everyone tax" and a "Trojan horse."
The ad features a menacing, AI-generated caricature of Sanders and other supporters of the tax, who are shown forcibly seizing residents' property, including a boat, a kid's scooter, and an elderly woman's television set.
1. The billionaires fighting a billionaire tax in California have created an AI-slop ad that shows the tax’s supporters assaulting kids and stealing their stuff. pic.twitter.com/L6PgmfUFAM
— Judd Legum (@JuddLegum) August 25, 2026
Journalist Judd Legum, author of the Popular Information newsletter, noted that the "fundamental premise of the ad is false."
"It claims that the initiative’s drafters included a provision that allows them to 'turn the tax on you,'" Legum wrote. "The initiative says that the tax can only be amended by the Legislature through a two-thirds vote of both houses. Even then, any changes must be 'consistent with and further... the purposes of the 2026 Billionaire Tax Act.'"
"The ad claims that 'every Californian will have to report all their assets to the state tax board,'" Legum observed. "Under the initiative, Californians just have to certify that they do not have $1 billion or more in assets by checking a box. This will be an easy calculation for nearly all Californians."
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Organizations backed by mega-billionaires, including Google co-founder Sergey Brin and notorious venture capitalist Peter Thiel, have launched an advertising blitz aimed at convincing California voters to oppose a one-time, 5% wealth tax targeting the very richest people in the state.
The two most prominent groups fighting the tax, which will appear on California's November ballot as Proposition 40, are Building a Better California and Californians Against Wasteful Spending and Higher Taxes. The former group, funded in large part by Brin, debuted its first television ad on Tuesday, just the start of what's expected to be a massive propaganda push against the proposed tax.
The New York Times reported that the first ad from Building a Better California "emphasizes that unions representing teachers and firefighters oppose the tax, along with the state’s top politicians, including Gov. Gavin Newsom, a Democrat."
"The ad makes no mention of the billionaires who vigorously oppose the tax," the Times added.
The coalition spearheading the wealth tax campaign is led by Service Employees International Union-United Healthcare Workers West (SEIU-UHW). The tax proposal has won endorsements from the California Federation of Labor Unions, the California Nurses Association, and the California Democratic Party, along with high-profile progressive lawmakers including Rep. Ro Khanna (D-Calif.) and Sen. Bernie Sanders (I-Vt.).
Dave Regan, president of SEIU-UHW, told the Times that supporters of the tax are "not going to try to compete at all with the billionaires on broadcast television." Brin's group is reportedly set to spend more than $90 million on ballot initiatives this year.
Instead, the Times reported, "the union plans to spread its message through text messages, social media, door-knocking and slate mailers, making the most of the powerful endorsements it recently won from the California Democratic Party and the California Federation of Labor Unions."
Last week, the Thiel-backed group Californians Against Wasteful Spending and Higher Taxes launched an online ad that falsely characterized the proposed billionaire levy as "an everyone tax" and a "Trojan horse."
The ad features a menacing, AI-generated caricature of Sanders and other supporters of the tax, who are shown forcibly seizing residents' property, including a boat, a kid's scooter, and an elderly woman's television set.
1. The billionaires fighting a billionaire tax in California have created an AI-slop ad that shows the tax’s supporters assaulting kids and stealing their stuff. pic.twitter.com/L6PgmfUFAM
— Judd Legum (@JuddLegum) August 25, 2026
Journalist Judd Legum, author of the Popular Information newsletter, noted that the "fundamental premise of the ad is false."
"It claims that the initiative’s drafters included a provision that allows them to 'turn the tax on you,'" Legum wrote. "The initiative says that the tax can only be amended by the Legislature through a two-thirds vote of both houses. Even then, any changes must be 'consistent with and further... the purposes of the 2026 Billionaire Tax Act.'"
"The ad claims that 'every Californian will have to report all their assets to the state tax board,'" Legum observed. "Under the initiative, Californians just have to certify that they do not have $1 billion or more in assets by checking a box. This will be an easy calculation for nearly all Californians."
Organizations backed by mega-billionaires, including Google co-founder Sergey Brin and notorious venture capitalist Peter Thiel, have launched an advertising blitz aimed at convincing California voters to oppose a one-time, 5% wealth tax targeting the very richest people in the state.
The two most prominent groups fighting the tax, which will appear on California's November ballot as Proposition 40, are Building a Better California and Californians Against Wasteful Spending and Higher Taxes. The former group, funded in large part by Brin, debuted its first television ad on Tuesday, just the start of what's expected to be a massive propaganda push against the proposed tax.
The New York Times reported that the first ad from Building a Better California "emphasizes that unions representing teachers and firefighters oppose the tax, along with the state’s top politicians, including Gov. Gavin Newsom, a Democrat."
"The ad makes no mention of the billionaires who vigorously oppose the tax," the Times added.
The coalition spearheading the wealth tax campaign is led by Service Employees International Union-United Healthcare Workers West (SEIU-UHW). The tax proposal has won endorsements from the California Federation of Labor Unions, the California Nurses Association, and the California Democratic Party, along with high-profile progressive lawmakers including Rep. Ro Khanna (D-Calif.) and Sen. Bernie Sanders (I-Vt.).
Dave Regan, president of SEIU-UHW, told the Times that supporters of the tax are "not going to try to compete at all with the billionaires on broadcast television." Brin's group is reportedly set to spend more than $90 million on ballot initiatives this year.
Instead, the Times reported, "the union plans to spread its message through text messages, social media, door-knocking and slate mailers, making the most of the powerful endorsements it recently won from the California Democratic Party and the California Federation of Labor Unions."
Last week, the Thiel-backed group Californians Against Wasteful Spending and Higher Taxes launched an online ad that falsely characterized the proposed billionaire levy as "an everyone tax" and a "Trojan horse."
The ad features a menacing, AI-generated caricature of Sanders and other supporters of the tax, who are shown forcibly seizing residents' property, including a boat, a kid's scooter, and an elderly woman's television set.
1. The billionaires fighting a billionaire tax in California have created an AI-slop ad that shows the tax’s supporters assaulting kids and stealing their stuff. pic.twitter.com/L6PgmfUFAM
— Judd Legum (@JuddLegum) August 25, 2026
Journalist Judd Legum, author of the Popular Information newsletter, noted that the "fundamental premise of the ad is false."
"It claims that the initiative’s drafters included a provision that allows them to 'turn the tax on you,'" Legum wrote. "The initiative says that the tax can only be amended by the Legislature through a two-thirds vote of both houses. Even then, any changes must be 'consistent with and further... the purposes of the 2026 Billionaire Tax Act.'"
"The ad claims that 'every Californian will have to report all their assets to the state tax board,'" Legum observed. "Under the initiative, Californians just have to certify that they do not have $1 billion or more in assets by checking a box. This will be an easy calculation for nearly all Californians."