The Golden State’s ultrarich, and therefore SoCal’s real estate royalty, dodged a bullet as Californians voted against Proposition 40, the billionaire tax. The Associated Press called the race Monday evening after the ballot initiative, which would have charged billionaires a one-time, 5 percent tax on their net worth, trailed for days. California real estate moguls didn’t rally against the proposed first-of-its-kind tax the same way tech execs and venture capitalists did — but there were a couple of real estate-connected billionaires that cut checks to the campaign against the tax. Marcus & Millichap founder and chair George Marcus made two, […]
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