wealth

If passed, California's Proposition 40 would be the world's first billionaire tax. [Brooke Anderson/TNA]
US affairs
World
Live Story

California's Proposition 40: the world's first billionaire tax

Advocates of Proposition 40, California's billionaire tax, say that if it is passed it could inspire similar measures around the world.

Brooke Anderson
08 October, 2026
A banner bearing portraits of Elon Musk, Jeff Bezos and Mark Zuckerberg with a slogan is seen during a demonstration against the World Economic Forum (WEF) on the eve of the WEF annual meeting in Davos on January 18, 2026.
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Malia Bouattia

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Yousef Khalil

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