“Some of Silicon Valley’s ultrawealthy have been in a financial frenzy in recent weeks over how to protect their assets from a proposed California ballot measure that would tax their billions,” the New York Times reports.
“Now comes the next, more muscular phase: trying to beat the proposal, which supporters are trying to place on the ballot in November.”
“The first seven-figure political donation that can be used to defeat the so-called billionaires tax became public on Friday: Peter Thiel, the venture capitalist and chairman of Palantir, donated $3 million to a committee opposing the proposed initiative, according to a new disclosure.”
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