Billionaire’s Tax Protests: SF Plans ‘March for Billionaires’ (SAT, FEB 14, 2026)

San Francisco is set to host a “March for Billionaires” on Saturday, February 14, 2026, according to its organizer Derik Kaufmann, co-founder of AI startup RunRL (YC alumni). Kaufmann confirmed the event is not a hoax orponsored by external groups and is opposed California’s proposed Billionaire’s Wealth Tax, which would levy a one-time 5% tax on net wealth exceeding $1 billion. Kaufmann argues the tax would harm Silicon Valley by迫使 paper-wealth founders liquidate shares on unfavorable terms, incur capital gains, and surrender control, with disproportionate impacts on small companies. He noted no U.S. precedent for comprehensive wealth taxation and pointed to Sweden’s removal of a similar tax two decades ago as evidence of entrepreneurship benefits. The legislation, backed by Service Employees International Union (SEIU), faces strong industry backlash and a likely veto from Governor Gavin Newsom. Kaufmann expects only a few dozen participants, and no major billionaires plan to attend.