They want to tax the richest. "They will receive a very painful lesson"

California is considering a one-time 5% wealth tax on billionaires, including notable figures like Mark Zuckerberg and Kim Kardashian. The initiative, Proposition 40, aims to address income inequality and generate $100 billion for healthcare funding. While it has support from some billionaires, it faces opposition from others, including Governor Gavin Newsom, who fears capital flight. A recent poll shows mixed public support, with 45% in favor and 42% against. If passed, the tax would apply retroactively to billionaires residing in California as of January 1, 2026. Critics warn it could drive wealthy residents out of the state, as seen with several billionaires already relocating.