How to Tax a Trillionaire

Last summer a California group launched an initiative called the 2026 Billionaire Tax Act, a one-time 5% levy on the assets of residents with a net worth of $1.1 billion...

By Bloomberg Markets · Bloomberg Markets

Last summer a California group launched an initiative called the 2026 Billionaire Tax Act, a one-time 5% levy on the assets of residents with a net worth of $1.1 billion or more. Then all hell broke loose. Brad Stone explains. (Source: Bloomberg)