America's tech elite are holding their breath as they await California's billionaire tax vote

Californians are voting on Proposition 40, a one-time 5% tax on roughly 200 residents with assets over $1 billion, with supporters projecting up to $100 billion for Medicare funding. Opponents, including Google cofounder Sergey Brin (over $100 million donated), Eric Schmidt, Max Levchin, Patrick Collison, Tony Xu, John Doerr and Chris Larsen, have raised about $130 million through October 22 versus $33 million for supporters. Meta CEO Mark Zuckerberg weighed leaving California, and Meta created a new share class giving him $20 billion in immediate liquidity if the measure passes, while Nvidia CEO Jensen Huang said he accepts whatever taxes apply. The vote has split political alliances, with Bernie Sanders backing the measure and Governor Gavin Newsom opposing it. Two countermeasures, Propositions 41 and 42, could block the tax if either receives more yes votes than Prop 40.