Former Campaign Finance Reformer Now Leads Fight Against California Billionaire Tax
Ned Wigglesworth, who previously criticized wealthy political donors, is a key strategist opposing Proposition 40, a proposed 5% tax on billionaires. The opposition campaign has raised over $100 million from tech figures like Sergey Brin and reserved $87 million in ads. Wigglesworth's career shift reflects tensions in California over taxing extreme wealth while relying on it.
Proposition 40 would apply a one-time 5% levy on roughly 200 billionaires residing in California as of January 1, with supporters estimating it could raise about $100 billion, largely earmarked for health care following federal Medicaid reductions. Opposition funding has been substantial, with Sergey Brin alone contributing over $100 million, while the campaign has reserved $87 million in advertising. Brin and Larry Page relocated to Miami before the cutoff and have since acquired approximately $225 million in Florida real estate.
Wigglesworth's professional trajectory spans communications roles at multiple firms, including a decade leading Spectrum Campaigns. His earlier statements, including a 2005 warning about wealthy interests spending heavily to protect their bottom lines and a 2007 column asserting donors "give because they get," now contrast sharply with his current work opposing the wealth tax. California's top 1% of earners contribute nearly half of state personal income tax revenue, a concentration that Governor Newsom has cited in opposing the measure.
This story may highlight a growing tension in California between progressive taxation impulses and reliance on ultrawealthy residents for state revenue. If Proposition 40 passes, it could set a precedent for other states considering wealth taxes, potentially affecting where billionaires choose to reside. Conversely, its defeat may reinforce the political influence of concentrated wealth in ballot campaigns. The outcome could shape public perceptions of whether democratic processes can effectively tax extreme wealth, with implications for how other states approach fiscal policy and economic inequality debates.