Peter Thiel makes $3m donation to fight California's proposed billionaire tax

[BumRushDaShow]

Source: The Guardian

Mon 12 Jan 2026 18.19 EST
Last modified on Mon 12 Jan 2026 18.21 EST


Palantir co-founder Peter Thiel has donated $3m to a California lobbying group advocating against a proposed wealth tax that would target billionaires in the state. The seven-figure contribution comes as several ultra-wealthy tech moguls have left or threatened to leave California over the tax.

Thiel, worth some $26bn, made the donation last month to the California Business Roundtable’s political action committee, according to a public disclosure filing which was first reported by the New York Times. A representative for Thiel did not respond to requests for comment.

The ballot proposal, called 2026 Billionaire Tax Act, is still in the beginning stages of gathering the 900,000 signatures needed for it to go to voters in November. If voted into law, it would levy a one-time, 5% tax on anyone in the state worth more than $1bn and grant a five-year period for payment. Thiel would owe the state roughly $1.3bn based on his current net worth.

Thiel’s contribution to the California Business Roundtable Pac is an early signal of how California’s tech elite may mobilize their immense resources to quash the proposed tax. As the proposal gains prominence, it has already become a fixation for some of the state’s wealthiest residents, who see an impending threat to their vast fortunes.

Read more: https://www.theguardian.com/us-news/2026/jan/12/peter-thiel-donation-california-billionaire-tax

[Cherrycheeks]

1. Think of..

All of the good that 3 million could have done. POS!😡

[JBTaurus83]

2. Because if CA passes it

Other states will too.

[doc03]

3. When you can donate $3 million to stop a tax increase it proves

there should be a tax increase.

[Roy Rolling]

8. This👆

X1000

Gavin Newsom should produce content illustrating this point for those in the back row to hear.

Humiliate Theil, don’t just defeat him in an arena ($$$) of Theil’s own choosing. Draw him out into the real world of memes. 😂

[Lonestarblue]

11. Instead, Newsom is saying he will stop this tax.

So much for focusing on the working class. In my opinion, we should not have billionaires. Tax them all out of existence.

[Dr. T]

18. "Tax the rich, feed the poor, 'til there are no rich no more."

Lyrics from "I'd Love to Change the World" by Ten Years After, 1971.

[jayschool2013]

10. Math!

So he's worth $26,000,000,000 and donated $3,000,000.

Let's remove some zeros to make it more relatable to people with less, but not nothing.

Let's say you're worth $260,000. We've taken away six zeros.

Now let's do that on the donation side. $3.

Dude needs to be taxed more. A lot more.

[Lovie777]

4. To be honest................

they are not leaving but claim they will.

[hatrack]

5. Kind of cheap for a guy worth $26 billion . . .

$3 million? Is that the best you can do, Great White Dope?

[cstanleytech]

6. States taxing them directly isn't likely to work as they can move pretty easy to avoid it.

The corporations that want to do business in the State though might be a better option but it would have to be crafted to prevent companies from evading by doing such things as using the fig leaf called a franchise.

[Lovie777]

7. Secondly..............

it shows how selfish billionaires are since apparently the middle class pays higher taxes per income.

[Dr. T]

19. Yes, percentages.

If I pay 30% of my income in taxes, why do billionaires pay only 8%, if any?

It should be either 30% or 8% for everyone regardless of the income source.

[Hieronymus Phact]

24. you think thats bad

I read that Thiel arranged to sell himself tons of paypal shares for $0.0002 each and put them into a Roth IRA.
That's all tax-free income. Sweet deal if you can get it.

[Javaman]

9. irony is dead. nt

[dlk]

12. Thiel could have just as easily donated those funds to a charity to help orhers

Instead, he’s the poster boy for pathological greed and selfishness. What a pathetic twisted soul.

[Buddyzbuddy]

13. Where do I sign? Thank you, Thiel, now I know I need to sign a petition.

And, demand my Governor support this legislation.

[Blues Heron]

14. Deport Thiel and Musk

[twodogsbarking]

15. Just pretend they are Venezuela and take all of their money.

[lastlib]

16. I favor the amended Shakespeare plan:

"the first thing we do, let's kill all the billionaires."

[calimary]

17. All the more reason to pass the Billionaire Tax Act.

Seems to me it makes sense. If you have more, shouldn’t you help more? If you have more, shouldn’t you contribute more?

Much blessed, much obligated.

[JohnnyRingo]

20. I'm sure he'll point out how this is actually costing me money.

He's just spending a few million to protect me and help me keep more of my hard earned money.

He's what Sean Hannity would call "A Great American". What a man of the people!

[uncle ray]

21. ok, make it 10% wealth tax then.

in fact, lets keep ratcheting it up every time a billionaire pledges money to fight this or threatens to leave the state.

[Miles Archer]

22. Thiel, Musk, Bezos, Zuckerberg...irredeemable.

Of course Thiel would pony up $3 million to fight paying a one-time 5% tax.

That's primarily because he's a scumbag.

"For $3 million, charities and non-profit organizations could serve a wide range of hot meals, typically from approximately 835,000 to over 14 million meals, depending on the organization's efficiency and the source of food."

https://www.google.com/search?q=How+many+hot+meals+could+be+served+to+the+homeless+for+%243+million

[Scrivener7]

23. Another hoarder. Psychologically sick. Hoarding money he could not possibly have any use for.