---
id: 5e6572cfba
section: elections
first_reported: 2026-11-03 20:55 PT
updated: 2026-11-04 16:35 PT
status: developing
outlets: 4
---

# California billionaire tax trails in early election returns

Proposition 40, a one-time 5% tax on billionaires, trailed in early returns Wednesday, while Proposition 42, blocking similar measures, led by over eight points.

Section: [Elections](/section/politics.md) · Entities: [Proposition 40 (California, 2026)](/wiki/proposition-40-california-2026.md), [Proposition 42 (California, 2026)](/wiki/proposition-42-california-2026.md)

> Developing: facts are still being established. Treat early details as provisional.

## Coverage

- [NBC Bay Area](https://www.nbcbayarea.com/elections/california-tax-billionaires-wealth/4169008/), 2026-11-03 20:55 PT: It's too early to call the outcome of California's proposal to tax billionaires
- [Mission Local](https://missionlocal.org/2026/11/california-billionaire-tax-election-results-2026/), 2026-11-03 23:22 PT: California billionaire tax, Prop. 40, trailing in early results
- [SFist](https://sfist.com/2026/11/04/california-billionaire-tax-looks-to-be-failing-while-prop-42-might-pass/), 2026-11-04 13:15 PT: California Billionaire Tax Looks to Be Failing, While Prop 42 Might Pass
- [KQED](https://ww2.kqed.org/news/2026/11/04/sf-has-more-billionaires-than-any-city-in-california-heres-how-residents-voted-on-prop-40/), 2026-11-04 16:35 PT: SF Has More Billionaires Than Any City in California. Here’s How Residents Voted on Proposition 40

Headline and summary written by the Acta Diurna desk from the coverage above. Read the original reporting for full detail.