Overview
- Organizer Derik Kaufmann, identified as an AI founder tied to RunRL, says the event is real, self-funded, and not backed by billionaires.
- The march is framed as a response to the Billionaire Tax Act, which would impose a single 5% tax on the total wealth of Californians worth over $1 billion.
- Kaufmann argues the measure would hurt the tech ecosystem by hitting founders with illiquid paper wealth and forcing unfavorable share sales.
- He says he is unaware of any billionaires planning to attend and expects only a few dozen participants.
- Governor Gavin Newsom has vowed to veto the proposal, which is backed by SEIU, even as some wealthy residents have threatened to leave the state or have already moved.