Billionaire Tax Protest Draws Dozen Participants in San Francisco

Organizer says march was sincere opposition to proposed tax on state's wealthiest residents.

Published on Feb. 7, 2026

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A 'March for Billionaires' rally held in San Francisco on Saturday drew about a dozen participants, according to reports. The event was organized by Derik Kauffman as a sincere protest against a potential new tax on California's wealthiest residents. The proposed Billionaire Tax Act would levy a one-time, 5% tax on the state's billionaires to help offset recent federal cuts affecting healthcare and food-assistance programs.

Why it matters

The march highlights the ongoing debate in California over how to tax the state's growing population of billionaires. Supporters of the Billionaire Tax Act argue it would benefit most residents, while opponents, including the governor, say it could drive billionaires and their businesses out of the state.

The details

The march drew a small crowd, with some counterprotesters mockingly impersonating billionaires. Organizer Derik Kauffman said the event was a sincere effort to raise awareness about the plight of the ultrarich and the potential impact of the proposed tax. Supporters of the tax say it would ensure billionaires pay their fair share, while opponents argue it could lead to an exodus of billionaires and businesses from California.

  • The 'March for Billionaires' rally took place on Saturday, February 7, 2026.
  • The Billionaire Tax Act is a proposed state ballot initiative that needs to collect hundreds of thousands of signatures by June 24 in order to get on the November 2026 ballot.

The players

Derik Kauffman

The organizer of the 'March for Billionaires' rally, who said the event was a sincere protest against the proposed Billionaire Tax Act.

Gavin Newsom

The governor of California, who opposes the Billionaire Tax Act and argues it could drive billionaires and businesses out of the state.

Larry Page

The co-founder of Google, who Kauffman claimed has already left California due to concerns over the proposed tax.

Sergey Brin

The co-founder of Google, who Kauffman claimed has already left California due to concerns over the proposed tax.

Razelle Swimmer

A counterprotester who carried a puppet of the Swedish Chef from the Muppets and said she doesn't believe billionaires need more protections.

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What they’re saying

“We must not judge billionaires as a class but by their individual merits. There are good billionaires and bad billionaires, just like there are good people and bad people. California is extraordinarily lucky that this is where people come to start companies and build fortunes and we should do our best to keep it that way.”

— Derik Kauffman, Organizer of the 'March for Billionaires' rally (latimes.com)

“If they aren't willing to pay more taxes, then I don't really care if they leave.”

— Razelle Swimmer, Counterprotester (latimes.com)

“There is a small chance that my helicopter won't be able to have a sauna in it just because apparently some kids want dental work or something.”

— Trilly O'Naire, Billionaire character played by counterprotester (latimes.com)

What’s next

The Service Employees International Union-United Healthcare Workers West, the main backer of the Billionaire Tax Act, needs to collect hundreds of thousands of signatures by June 24 in order to get the measure on the November 2026 ballot.

The takeaway

The 'March for Billionaires' rally highlights the ongoing debate in California over how to tax the state's growing population of billionaires. While supporters argue the proposed tax would ensure the wealthy pay their fair share, opponents warn it could drive billionaires and businesses out of the state, costing jobs and tax revenue.