Peter Thiel Bets Big Against California’s Billionaire Wealth Tax with $3 Million Donation

Peter Thiel donated $3 million to the California Business Roundtable to oppose the proposed 2026 billionaire wealth tax, his largest political gift in years, signaling an early and high-profile push against the measure that would impose a 5% tax on net worth above $1 billion. Gov. Gavin Newsom also opposes the idea, and opponents expect a major fundraising effort to gather signatures to place the measure on the ballot.