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International Business Times UK
International Business Times UK
Jim Yango Fantonial

Four Richest Californians Could Pay 40% of Proposed Wealth Tax as Billionaires Fund Opposition Drive

California’s four richest billionaires could collectively owe around $42.8 billion under a wealth tax proposal facing voters on 3 November (Credit: AI/chatgpt.com)

California's four richest billionaires could face a combined wealth tax liability of approximately $42.8 billion (£32.12 billion) under a proposal going before voters on 3 November.

Sergey Brin, Jensen Huang, Larry Page and Mark Zuckerberg account for about 40% of an estimated $107 billion total (£80.32 billion), according to a Los Angeles Times analysis. That projection draws on Forbes wealth estimates from 16 October, rather than official tax assessments.

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