California voters reject proposed one-time tax on billionaires' wealth

California voters have rejected a proposed 5% tax on the net worth of billionaires, handing a victory to tech leaders who poured hundreds of millions of dollars into defeating the measure. The defeat of Proposition 40 also marks a setback for progressives seeking to tax the wealth of the ultra-rich.

France 24 reported this story. Read the full report on france24.com →