California’s Billionaire Influence in the 2026 Election

California’s billionaire class is extensive, featuring individuals like Dr. Dre, Tim Cook, Marissa Mayer, Mark Zuckerberg, Beyoncé, and Jay Z. The 2026 election in the state has highlighted the profound impact of these wealthy individuals. A notable aspect of this election was the substantial financial contributions made by billionaires.

Throughout the year, a select group of affluent individuals utilized their resources to influence election outcomes. These financial endeavors drew considerable attention. An analysis by POLITICO provides insights into the party affiliations and voting tendencies of these billionaires.

Tom Steyer, a billionaire philanthropist, invested over $200 million in an unsuccessful bid for the governor’s office. Additionally, the SEIU-UHW’s push for Proposition 40 aimed to impose a one-time tax on California’s wealthiest, prompting Sergey Brin to lead a $300 million opposition campaign. Brin’s involvement positions him as a long-term political influence.

Gary Michelson, a surgeon and inventor, spent tens of millions promoting a personal initiative, an immunology bond directing funds to his co-founded institute. The total expenditure by current and former California billionaires reached $612 million in this election cycle.

The influence of the richest Americans on politics has been growing. This year’s California election has accelerated that trend. POLITICO matched 166 billionaires with the state’s voter file, revealing details about their political leanings and voting behavior.

Familiar names include entertainment and tech industry figures such as Dr. Dre, Rihanna, Kim Kardashian, and tech moguls like Meta CEO Mark Zuckerberg, Anthropic founder Dario Amodei, and former Google CEO Eric Schmidt. Others, like Donald Friese and James Scapa, operate more anonymously.

POLITICO’s analysis found that Democrats outnumber Republicans among California’s billionaires despite many industrial leaders interacting with President Donald Trump. Democratic political data expert Paul Mitchell noted that people often perceive more Republicans among billionaires due to recent interactions with Trump.

Republican consultant Mike Murphy highlighted the complexity of political affiliations among the wealthy, challenging the assumption that wealth equates to Republican support. Mark Zuckerberg, who has had meetings with Trump and undergone some changes in public perception, was listed as a registered Democrat.

Dario Amodei, another frequent White House guest, was also a registered Democrat, as was his AI rival, Sam Altman. Republican billionaires identified included Arnold Schwarzenegger, Joe Lacob, and Palmer Luckey.

Despite these findings, billionaires were less Democratic than the state’s overall electorate. They also showed a higher tendency for no party preference. Mitchell explained that this could reflect a disdain for the two-party system, where some individuals feel disconnected or superior to party affiliations.

Los Angeles and San Francisco are primary locations for billionaire power, with significant registration numbers in these cities. At least a quarter of these billionaires were California-born, with others hailing from New York and international origins.

Billionaires have claimed a disproportionate role in California politics this year, and they generally display high voting propensity. Over 60% voted in the last three presidential elections, exceeding the statewide electorate’s participation rates in 2024 and 2016.

However, turnout was lower for special elections and primaries, with 54% voting in the last November’s special election and 51% in the 2024 primaries. Some billionaires consider leaving California due to the wealth tax, and if Proposition 40 passes, more might follow suit.