Dueling Protests in San Francisco Over Proposed 'Billionaire's Tax'

Pro-wealth activists clash with socialist demonstrators over California's plan to tax the ultra-wealthy

Published on Feb. 7, 2026

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A small group of pro-wealth activists held a 'March for Billionaires' rally in San Francisco to oppose a proposed state tax that would force billionaires to hand over 5% of their net worth each year. However, the march was quickly overwhelmed by well-organized counter-protesters, who shouted chants of 'billionaire brown-nosers' and handed out fake treats named after Elon Musk and Jeff Bezos. The two sides clashed over the value billionaires bring to the economy versus the need to tax the ultra-wealthy.

Why it matters

This protest highlights the growing political divide in California over how to address wealth inequality, with some arguing that billionaires are vital to the state's economy while others view them as hoarding resources that should be redistributed. The proposed 'billionaire's tax' has become a flashpoint in this debate.

The details

The 'March for Billionaires' rally was organized by Derik Kauffman, the co-founder of an AI startup called RunRL. Kauffman said the group had two goals: to promote the value billionaires bring to the economy and to oppose the proposed wealth tax. However, the march was quickly outnumbered by well-organized counter-protesters, who shouted chants and handed out fake treats mocking the pro-wealth activists. The counter-protesters, including a 'protest artist' dressed as the Swedish Chef, argued that billionaires have 'used our support to hoard our resources'.

  • The march began at 11 a.m. Saturday at Alta Plaza Park in Pacific Heights and continued to the Civic Center.

The players

Derik Kauffman

The co-founder of AI startup RunRL who organized the 'March for Billionaires' rally.

Razelle Swimmer

A counter-protester who dressed as the Swedish Chef from The Muppets and described herself as a 'protest artist'.

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What they’re saying

“Vilifying billionaires is popular. Losing them is expensive.”

— Derik Kauffman, March Organizer (The California Post)

“I saw an opportunity to highlight the absurdity of the sincerity of these people who somehow think billionaires need support, when really they've used our support to hoard our resources.”

— Razelle Swimmer, Counter-Protester (The California Post)

What’s next

The proposed 'billionaire's tax' still needs to go through the state legislative process, and it remains to be seen whether it will ultimately be enacted.

The takeaway

This protest underscores the deep political divisions in California over how to address wealth inequality, with some arguing that billionaires are vital to the state's economy while others view them as hoarding resources that should be redistributed through higher taxes.