Tech Elites Plot To Primary Populist Democrat Who Called For Wealth Tax

Silicon Valley tech moguls are threatening to primary Democratic California Rep. Ro Khanna following his support for a proposal to tax the Golden State’s wealthiest residents.

The proposal — which requires 874,641 signatures to be placed on the ballot in 2026 — is a one-time 5% tax on residents with net worths exceeding $1 billion, which some supporters say could help offset federal funding cuts for healthcare. Venture capitalists such as Martin Casado and Garry Tan on Saturday claimed Khanna was pushing away moderates who had supported him in the past, and called for him to be primaried in the upcoming midterm elections.

“Ro has done a speed run alienating every moderate I know who has supported him. Including myself. Beyond being totally out of touch with that faction of his base, he’s devolved into an obnoxious jerk,” Casado said on social media. “At least that makes voting him the fuck out all the more gratifying.”

Khanna has represented the state’s 17th Congressional District in the heart of Silicon Valley since 2017 and has long raked in support from tech leaders and donors in the district.

Roughly 200 billionaires in the state would have to pay the tax, leading Khanna to refer to it as a 1% tax which could garner roughly $100 billion in revenue. Democratic California Gov. Gavin Newsom rebuked the policy proposal at The New York Times DealBook conference on Dec.3,