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Tech Billionaires

All articles tagged with #tech billionaires

politics8 hours ago

Newsom fights billionaire tax plan, turning California ballot into a political showdown

California Governor Gavin Newsom vowed to block a proposed 2026 ballot measure that would impose a one-time 5% tax on residents worth more than $1 billion, arguing it would hurt the state's economy and push investments out of California. The measure, backed by SEIU, faces opposition from tech moguls and business groups who warn it could drive the ultra-wealthy to relocate. Signature threshold to qualify remains 900,000, and the issue has emerged as a political flashpoint as billionaires react and lawmakers mobilize against the plan.

via The Guardian|
#billionaire-tax#california#gavin-newsom
business17 days ago

Billionaires Consider Leaving California Over Proposed Wealth Tax

Tech billionaires Peter Thiel and Larry Page are considering leaving California due to a proposed billionaire wealth tax, which aims to tax assets over $1 billion at 5%, potentially raising $100 billion for healthcare. The move is part of a broader trend of high-profile entrepreneurs relocating to states with lower taxes, such as Texas, amid concerns about California's fiscal policies and regulatory environment. The tax proposal still needs to gather enough signatures to appear on the 2026 ballot, but it has sparked debate over its impact on innovation and the state's economy.

via Fortune|
#business#california#exodus
politics4 months ago

Trump Hosts Tech Leaders at Rose Garden Event Amid Changes and Absences

President Donald Trump is hosting a dinner in the newly renovated Rose Garden at the White House with top tech executives including Mark Zuckerberg, Tim Cook, and Bill Gates, but Elon Musk is notably absent. The event follows a separate AI-focused meeting led by First Lady Melania Trump, highlighting the administration's engagement with the tech industry and AI development.

via Forbes|
#artificial-intelligence#politics#rose-garden-event
culture6 months ago

Astrophysicist Explores Tech Billionaires' Mysteries

Astrophysicist Adam Becker criticizes Silicon Valley's obsession with outlandish technological utopias, highlighting the scientific inaccuracies and delusions behind claims of superintelligent AI and space colonization, and emphasizing the need for critical thinking, political organization, and equitable resource distribution to counterbalance billionaire influence.

via Rolling Stone|
#artificial-intelligence#culture#reality-check
politics1 year ago

Tech Titans Eye Pentagon Partnerships Amid Defense Innovation Push

Tech billionaires, including Elon Musk, are poised to influence the Pentagon under the Trump administration, potentially clashing with its bureaucratic nature. These Silicon Valley leaders aim to accelerate weapon development and reform defense systems, but face challenges in navigating the Pentagon's complex processes and potential conflicts of interest. While some in the tech sector welcome this change, others question whether the fast-paced, disruptive approach of Silicon Valley can effectively integrate with the Pentagon's established practices.

via POLITICO|
#defense#pentagon#politics
business1 year ago

Elon Musk's Wealth and Influence Stir Debate Among Billionaires

Elon Musk's wealth surged by $119 billion in 2024, reaching $348 billion, surpassing tech moguls like Michael Dell. This increase is part of a broader trend where the top 10 wealthiest individuals gained a combined $585 billion, driven by AI advancements and strategic investments. Larry Ellison, Jensen Huang, and Mark Zuckerberg also saw significant increases in their fortunes, with Ellison's net worth reaching $206 billion and Huang's $124 billion. Meanwhile, Jeff Bezos and the Walton heirs are catching up, benefiting from AI-focused initiatives and stock surges.

via Yahoo Finance|
#ai-boom#business#elon-musk