Sen. Bernie Sanders said Mark Zuckerberg could owe about $10.5 billion if California voters approve a proposed one-time 5% billionaire wealth tax, arguing the revenue could preserve healthcare for roughly three million low-income residents. Supporters estimate the measure could raise about $100 billion to offset federal cuts to Medicaid and food assistance. Opponents — including Sergey Brin, Peter Thiel and others — warn it could prompt an exodus of wealthy residents, and a Community Note noted Zuckerberg's move to Florida may affect his liability. Critics also question whether such taxes can sustain long-term revenue if the very wealthy relocate or shift assets.
Bernie Sanders Jokes Mark Zuckerberg Would Owe $10.5B Under Proposed California Billionaire Tax
Bernie Sanders Mocks Meta CEO Mark Zuckerberg Over Potential $10.5 Billion Tax Bill in California: 'How Will He Survive?'
Sen. Bernie Sanders (I-Vt.) said on Thursday that Meta CEO Mark Zuckerberg could face roughly $10.5 billion in taxes if California voters approve a proposed one-time 5% billionaire wealth tax this November, arguing the revenue could help preserve healthcare coverage for about three million low-income residents.
The ballot measure would impose a single 5% levy on individuals with a net worth above $1 billion who were California residents as of Jan. 1, 2026. Supporters estimate the tax could raise about $100 billion, funds they say could offset anticipated federal cuts to Medicaid and food assistance programs.
In a post on X (formerly Twitter) on July 30, 2026, Sanders wrote that an approved tax would mean Zuckerberg "would owe $10.5 billion in taxes & healthcare would be saved for 3 million low-income people," and added jokingly, "Poor Mr. Zuckerberg would only have $200 billion left to feed his family. How will he survive?"
"If voters in California approve the 5% billionaire wealth tax in November, Mark Zuckerberg would owe $10.5 billion in taxes & healthcare would be saved for 3 million low-income people. Poor Mr. Zuckerberg would only have $200 billion left to feed his family. How will he survive?" — Bernie Sanders (@BernieSanders) July 30, 2026
Context and Political Debate
Sanders has long argued that higher taxes on billionaires could fund public services while leaving the nation's wealthiest individuals with substantial fortunes. Earlier this year he challenged Amazon founder Jeff Bezos to debate the proposed 5% levy, saying revenue from such a tax could expand Medicare benefits, guarantee universal childcare, raise starting teacher pay and provide targeted payments to working families — while still leaving billionaires wealthy after payment.
Opposition and Practical Concerns
The California proposal has drawn opposition from prominent business figures and some politicians. Google co-founder Sergey Brin donated $57 million to a committee fighting the measure, Palantir chairman Peter Thiel has contributed to the campaign against it, and venture capitalist Chamath Palihapitiya warned the measure could later be broadened beyond billionaires. Democratic Gov. Gavin Newsom has cautioned that the tax might prompt wealthy residents to leave the state.
Questions About Liability and Long-Term Revenue
A Community Note attached to Sanders' X post noted reports that Zuckerberg moved to Florida after the California tax was first proposed, which could affect whether he would be liable under a state ballot measure tied to residency as of Jan. 1, 2026. The note cited coverage from several outlets documenting Zuckerberg's relocation.
Critics of wealth taxes have also questioned their long-term revenue potential. Commentators such as podcaster Joe Rogan and financial creator Caleb Hammer have argued that while billionaire levies may raise significant short-term funds, wealthy individuals could relocate, change residency, or shift assets over time, reducing expected long-term receipts.
Note: This article focuses on the political debate and practical implications of the proposed California measure. Some versions of the original story included sponsored investment content; this version emphasizes the news and policy context.
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