Peter Thiel makes $3m donation to fight California's proposed billionaire tax [View all]
Source: The Guardian
Mon 12 Jan 2026 18.19 EST
Last modified on Mon 12 Jan 2026 18.21 EST
Palantir co-founder Peter Thiel has donated $3m to a California lobbying group advocating against a proposed wealth tax that would target billionaires in the state. The seven-figure contribution comes as several ultra-wealthy tech moguls have left or threatened to leave California over the tax.
Thiel, worth some $26bn, made the donation last month to the California Business Roundtable’s political action committee, according to a public disclosure filing which was first reported by the New York Times. A representative for Thiel did not respond to requests for comment.
The ballot proposal, called 2026 Billionaire Tax Act, is still in the beginning stages of gathering the 900,000 signatures needed for it to go to voters in November. If voted into law, it would levy a one-time, 5% tax on anyone in the state worth more than $1bn and grant a five-year period for payment. Thiel would owe the state roughly $1.3bn based on his current net worth.
Thiel’s contribution to the California Business Roundtable Pac is an early signal of how California’s tech elite may mobilize their immense resources to quash the proposed tax. As the proposal gains prominence, it has already become a fixation for some of the state’s wealthiest residents, who see an impending threat to their vast fortunes.
Read more: https://www.theguardian.com/us-news/2026/jan/12/peter-thiel-donation-california-billionaire-tax
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