Billionaire George Marcus Funds Anti-Tax PAC
George Marcus contributed $2 million to oppose a proposed billionaire wealth tax in California.
Updated on Oct. 20, 2026 in Philanthropy
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George Marcus, a billionaire with a net worth of $1.5 billion, has donated $2 million to the Building a Better California political action committee. The group is using these funds to campaign against California Propositions 41 and 42, which propose a one-time 5 percent fee on personal wealth.
Why it matters
This contribution highlights the significant financial stakes for California's wealthiest individuals regarding upcoming ballot measures. If passed, the proposed tax would require billionaires to pay a 5 percent fee, resulting in an estimated $75 million liability for Marcus alone.
The proposed tax levies a 5 percent fee on the personal wealth of billionaires. George Marcus, who holds a net worth of $1.5 billion, would face an estimated tax liability of $75 million under the initiative.
The players
George Marcus
He is a wealthy businessman and the founder of the real estate brokerage firm Marcus & Millichap based in Calabasas.
Stewart Resnick
He is a prominent businessman who contributed $4.5 million to the Building a Better California political action committee.
Matt Mahan
He is a political figure currently running for governor who received $78,400 in campaign support from George Marcus.
Xavier Becerra
He is a politician and former government official who received a $10,000 donation from George Marcus.
The details
The Building a Better California political action committee is actively bankrolling opposition to the proposed wealth tax measures. Beyond his contribution to the committee, Marcus has also donated $78,400 to Matt Mahan's campaign for governor and $10,000 to Xavier Becerra.
Timeline
George Marcus contributed to Matt Mahan's gubernatorial campaign in 2026.
The $2 million donation to the political action committee occurred on October 15, 2026.
California voters will cast their ballots on the proposed billionaire tax in November 2026.
Market Landscape
This contribution marks a shift in how high-net-worth individuals are organizing to challenge California Propositions 41 and 42. It positions these donors in direct opposition to state-level wealth tax initiatives that could fundamentally alter the financial landscape for the ultrarich.
The outcome of the November 2026 vote on these propositions will determine whether billionaires in the state face a new one-time 5 percent wealth fee. Residents should monitor these ballot measures as they directly influence the state's tax revenue models and potential future public funding.
The takeaway
The heavy funding of the Building a Better California political action committee underscores how aggressively wealthy donors are working to defeat specific tax proposals. Voters should evaluate the potential impact of these ballot measures on state wealth distribution before heading to the polls.
Further reading
Learn more about local Philanthropy initiatives across the state.
Source note: This article includes information reported by The Real Deal New York.
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