New Campaign Filings Show Record-shattering 30 Billionaires Contribute to Defeat Prop 30, Setting National Record

Contact: Steven Maviglio, 916-607-8340

FOR IMMEDIATE RELEASE

NEW CAMPAIGN FILINGS SHOW RECORD-SHATTERING 30 BILLIONAIRES CONTRIBUTE TO DEFEAT PROP 30, SETTING NATIONAL RECORD


Mega-donors Fight Increased Taxes on Incomes of $2 Million+ to Pay for Clean Air for All Californians

SACRAMENTO, CA – A record-breaking 30 billionaires have contributed to the campaign to defeat Proposition 30, the November ballot measure that will increase taxes on multi-millionaires to fund clean air programs, according to campaign filings reported to the California Secretary of State today.

The contributions are the most donations ever by billionaires to any ballot campaign according to state and national records. In total, the No campaign has reported over $21.7 million in contributions, largely from wealthy donors affiliated with Govern for California, a group whose practices are under review by the Fair Political Practices Commission (FPPC).

“It is clear that the uber-wealthy in this state will donate mega-millions to protect their wallets rather than paying their fair share for climate action that will reduce wildfires and air pollution,” said Francisco Moreno, executive director of the Council of Mexican Federations in North America (COFEM). “This is an unprecedented onslaught from a collection of Trump donors, lumber barons and the elite unwilling to contribute to improving our environment.”

Among the top billionaire donors:

  • Reed Hastings, who donated $1 million to No on 30. Hastings had an estimated net worth of $3.1 billion as of October 2022 according to Forbes. In 2022, Hastings ranked #388 on the Forbes 400 list and #801 on Forbes’ Billionaires list.
  • Mark Heising gave a total of $1.25 million to No on 30. Heising is married to Liz Simons whose father Jim Simons had an estimated net worth of $24.3 billion as of October 2022, based on the Bloomberg Billionaires Index.
  • Michael Moritz gave a total of $1,333,007.80 to No on 30. Moritz had an estimated net worth of $4.2 billion as of October 2022 according to Forbes.
  • John Fisher gave a total of $980,000 to No on 30. As of October 2022, Fisher had a net worth of $2.2 billion according to Forbes. He was also a member of the Fisher family that Forbes estimated had a collective net worth of $7.3 billion as of November 2019.
  • Robert Fisher gave a total of $980,000 to No on 30. As of October 2022, Fisher had a net worth of $1.1 billion according to Forbes. He was also a member of the Fisher family who Forbes estimated had a collective net worth of $7.3 billion as of November 2019.
  • William Fisher gave a total of $980,000 to No on 30. As of October 2022, Forbes estimated Fisher’s net worth at nearly $1 billion. He was also a member of the Fisher family who Forbes estimated had a collective net worth of $7.3 billion as of November 2019.
  • Sierra Pacific Industries gave a total of $955,000 to No on 30. The company is owned by Archie Aldis “Red” Emmerson whose family had an estimated net worth of $5.5 billion.
  • Arthur Rock gave a total of $499,000 to No on 30. As of 2007, Forbes estimated Rock’s net worth at $1 billion, and he appeared #891 on the list of the World’s Billionaires. Mark Pincus gave $490,313 to No on 30. As of October 2022, Forbes estimated Pincus’s net worth at $1.4 billion.
  • William E. Oberndorf gave a total of $100,000 to No on 30. As of October 2022, Benzinga estimated that Oberndorf had a net worth of $9.7 billion. In February 2022, the San Francisco Examiner also described Oberndorf as “the Republican billionaire behind S.F.’s recalls.”

Proposition 30 is the ballot initiative that will help millions of Californians afford electric vehicles, create a statewide EV charging network, and reduce the extreme wildfires plaguing the state. The measure generates approximately $100 billion over 20 years for these critical programs, directing half of its EV-related funding to low-income communities suffering disproportionately from air pollution and the climate crisis. It is funded by a 1.75 percent increase in the income taxes of those who earn $2 million or more.

For more information about Clean Air California, visit www.YESon30.org.