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Peter Thiel Donates $3M to Defeat California Billionaire Tax

1/12/2026

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Summary

Story summary

Peter Thiel, chairman of Palantir, donated $3 million to a committee opposing the California ballot measure to tax billionaires.
The donation signals the start of significant tech-led contributions aimed at defeating the wealth tax.
The California Business Roundtable plans to lead the campaign, with estimates of over $75 million in spending.
Rob Lapsley, president of the Roundtable, says donors are being contacted to bolster opposition to the tax.

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Story summary

Peter Thiel, chairman of Palantir, donated $3 million to a committee opposing the California ballot measure to tax billionaires.
The donation signals the start of significant tech-led contributions aimed at defeating the wealth tax.
The California Business Roundtable plans to lead the campaign, with estimates of over $75 million in spending.
Rob Lapsley, president of the Roundtable, says donors are being contacted to bolster opposition to the tax.