{"id":217910,"date":"2026-03-13T09:24:19","date_gmt":"2026-03-13T09:24:19","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ca\/217910\/"},"modified":"2026-03-13T09:24:19","modified_gmt":"2026-03-13T09:24:19","slug":"tech-billionaires-reportedly-plotting-500m-fund-to-reshape-california-politics","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ca\/217910\/","title":{"rendered":"Tech billionaires reportedly plotting $500M fund to reshape California politics"},"content":{"rendered":"

(KRON<\/a>) \u2014 Apparently stung by efforts to bring a proposed \u201cbillionaire tax\u201d to the ballot next fall, tech billionaires are reportedly plotting an effort to reshape California politics in their favor. That\u2019s according to a report in Bloomberg<\/a> that Silicon Valley billionaires are proposing a multi-million-dollar fund to ramp up a political machine to represent the uber rich and the tech elite.<\/p>\n

The fund, according to Bloomberg, would give the tech billionaire class a means of countering the interests of labor unions, progressive groups and other groups that currently influence politics in the Golden State.<\/p>\n

Organizers of the effort are reportedly seeking $100 million this year in the hopes of reaching between $500 million and $1 billion in the next few years, according to Bloomberg\u2019s report, which cited people familiar with the matter.<\/p>\n

AI less popular than ICE, according to poll <\/a><\/p>\n

Backers of the effort include Greenoaks Capital founder Neil Mehta, Y Combinator CEO Garry Tan, and Palantir co-founder Joe Lonsdale, Bloomberg reports.<\/p>\n

\"Garry<\/p>\n

Garry Tan, president, chief executive officer and co-founder of Y Combinator, during the Bloomberg Technology Summit in San Francisco, California, US, on Thursday, May 9, 2024. Bloomberg Tech is a future-focused gathering that aims to spark conversations around cutting-edge technologies and the future applications for business. Photographer: David Paul Morris\/Bloomberg via Getty Images<\/p>\n

\u201cA lot of people are supporting their effort from both political sides,\u201d Lonsdale told Bloomberg in an email. \u201cWe all want to see a more level political playing field, where common-sense, moderate policy can win, with a focus on making California more affordable and pro-growth.\u201d<\/p>\n

The initiative is reportedly being called the California Renewal project and would involve creating an endowment-type fund that would act across election cycles by financing political contributions through its own investment returns.<\/p>\n

Copyright 2026 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.<\/p>\n

For the latest news, weather, sports, and streaming video, head to KRON4. <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"(KRON) \u2014 Apparently stung by efforts to bring a proposed \u201cbillionaire tax\u201d to the ballot next fall, tech…\n","protected":false},"author":2,"featured_media":217911,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[13573,17039,99904,7,9,8,99898,99905],"class_list":["post-217910","post","type-post","status-publish","format-standard","has-post-thumbnail","category-california","tag-billionaire","tag-bloomberg","tag-bloomberg-tech","tag-california","tag-california-headlines","tag-california-news","tag-joe-lonsdale","tag-political-machine"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/217910","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/comments?post=217910"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/217910\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media\/217911"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media?parent=217910"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/categories?post=217910"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/tags?post=217910"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}