Controversy Surrounds San Francisco Rally Supporting Billionaires

Organizers claim the proposed billionaire tax will drive wealth and innovation out of California.

Published on Feb. 7, 2026

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A small group gathered in San Francisco on Saturday for a 'March for Billionaires' rally at City Hall, drawing a crowd of media and opponents. The rally, which aimed to show support for billionaires and oppose California's proposed tax on billionaire wealth, quickly became a spectacle with both sincere supporters and satirical opponents in attendance.

Why it matters

The issue of income inequality is a serious one, and the rally highlighted the divide between those who support taxing the ultra-wealthy and those who believe such measures will drive wealth and innovation out of the state.

The details

Organizer Derik Kauffman acknowledged the rally would be provocative, but said he believes most billionaires have had a positive influence on the economy. A woman named Annie, who claimed to be a genuine supporter, said she came up with the original idea for the march. However, the rally also drew sarcastic opposition, including a couple carrying signs about class warfare and a man in a business suit and crown mocking the 'plight' of billionaires. A local small business owner expressed outrage at the rally, saying he would be willing to give up 5% of his net worth to help the community, while others were simply confused about whether the event was serious or a joke.

  • The rally took place on Saturday, February 8, 2026.

The players

Derik Kauffman

The organizer of the 'March for Billionaires' rally.

Annie

A woman from Berkeley who claimed to have come up with the original idea for the rally in support of billionaires.

John Quillinan

A small business owner who supports the proposed 5% tax on billionaire wealth.

Michele and Jesse Foster

A couple who were confused about whether the rally was serious or a joke.

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What they’re saying

“The fact that that is not acceptable to them makes me sick to my stomach. I would give up five percent of my net worth over five years to help my community. I own a small business. I'm not doing amazingly, and I would still do it to help people. What's wrong with you that you won't?”

— John Quillinan, Small business owner (cbsnews.com)

“At first we were horrified, and then, 'I'm not sure if they're joking.' They have to be joking. It's a joke, for sure. Has to be.”

— Michele (cbsnews.com)

What’s next

The proposed billionaire tax in California will continue to be a topic of debate, with both supporters and opponents making their voices heard.

The takeaway

This rally highlighted the deep divisions in society over the issue of wealth inequality and the appropriate ways to address it, with some seeing taxes on the ultra-wealthy as necessary while others view such measures as detrimental to the economy.