An AI Startup Founder Says He’s Planning A ‘March For Billionaires’ In Protest Of California’s Wealth Tax
March for Billionaires protest planned by AI founder against California's proposed 5% wealth tax on ultra-high-net-worth residents.
Matilda
An AI Startup Founder Says He’s Planning A ‘March For Billionaires’ In Protest Of California’s Wealth Tax
March for Billionaires: AI Founder's Wealth Tax Protest Explained A San Francisco AI entrepreneur is organizing a "March for Billionaires" this Saturday to protest California's proposed Billionaire Tax Act—a one-time 5% levy on residents worth over $1 billion. Derik Kaufmann, founder of startup RunRL, insists the demonstration is genuine, not satire, despite widespread skepticism online. He argues the tax would trigger an exodus of tech wealth and innovation from the state, harming California's economy long after headlines fade. The protest arrives as lawmakers debate whether taxing extreme wealth can fund critical public services without accelerating the state's ongoing tech migration. Credit: Google Why a Billionaire March? The Tax Behind the Controversy California's Billionaire Tax Act aims to impose a single 5% tax on the net worth of residents exceeding $1 billion. Unlike income taxes that target annual earnings, this proposal targets accumulated assets—…
