As Gavin Newsom departs, ultra-wealthy flex wealth and influence to fight regulation and keep the boom going
Tech billionaires are leveraging tens of millions of dollars to influence California politics in a marked uptick from their previous participation in affairs at the state capitol. Behemoths such as Google and Meta are getting involved in campaigns for November’s elections, as are venture capitalists, cryptocurrency entrepreneurs and Palantir’s co-founders. The industry’s goals run the gamut – from fighting a billionaire tax to supporting a techie gubernatorial candidate to firing up new, influential super political action committees (Pacs).
The phenomenon squarely fits the moment for the state’s politics – with 2026 being the year that Politico has dubbed “the big tech flex”.
As Gavin Newsom departs, ultra-wealthy flex wealth and influence to fight regulation and keep the boom goingTech billionaires are leveraging tens of millions of dollars to influence California politics in a marked uptick from their previous participation in affairs at the state capitol. Behemoths such as Google and Meta are getting involved in campaigns for November’s elections, as are venture capitalists, cryptocurrency entrepreneurs and Palantir’s co-founders. The industry’s goals run the gamut – from fighting a billionaire tax to supporting a techie gubernatorial candidate to firing up new, influential super political action committees (Pacs).The phenomenon squarely fits the moment for the state’s politics – with 2026 being the year that Politico has dubbed “the big tech flex”. Continue reading…
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