California voters reject billionaire wealth tax backed by Sergey Brin

Voters in California have turned down Proposition 40, a ballot measure that would have levied a one-time tax on billionaires. Large donations from wealthy figures, including Sergey Brin, played a notable role in shaping the result. Although the proposal drew backing in major cities such as San Francisco and Los Angeles, voters in Silicon Valley largely opposed it. Opponents also placed counterpropositions on the ballot to help secure its defeat.