Wealthy tech execs start ‘openly conspiring’ against Dem lawmaker over ‘modest wealth tax’

A proposed California wealth tax has sent some billionaires scrambling, and on Saturday night, prompted a group of wealthy tech entrepreneurs to begin “openly conspiring” against a Democratic lawmaker who supports it.

Dubbed the California Billionaire Tax Act, the proposed ballot measure, if adopted by voters next year, would impose a 5% tax on the net worth of California billionaires, payable over five years.

News of the proposal led some billionaires – including pro-Trump tech billionaire Peter Thiel ...