Sen. Bernie Sanders (I-Vt.) on Thursday said Meta Platforms Inc. (NASDAQ:META) CEO Mark Zuckerberg could owe about $10.5 billion if California voters approve a proposed 5% billionaire wealth tax in November, saying the revenue could help preserve healthcare for 3 million low-income people.
The proposed ballot measure would impose a one-time 5% tax on people with a net worth above $1 billion who were California residents as of Jan. 1, 2026. Supporters say it could raise about $100 billion to help offset federal cuts to Medicaid and food assistance programs.
