California’s billionaires are stepping up their involvement in state politics with multimillion-dollar donationsSign up for the Breaking News US email to get newsletter alerts in your inboxTech billionaires are adding to their already huge spending spree on California politics as campaigns for governor and a proposed wealth tax heat up. According to recently released campaign finance disclosures, big names pouring millions into state politics include current and former chief executives from Google, DoorDash, Reddit, LinkedIn and Facebook – evidence of Silicon Valley’s increasing involvement in politics.Google’s former CEO Eric Schmidt has become a major donor, contributing $1.04m to an independent committee, the California Business Roundtable, that is campaigning against the proposed Billionaire Tax Act, according to new filings released by the state government. The union-backed tax proposal, opposed by almost all of the state’s mega-rich, aims to help cover education, food assistance and healthcare programs. Continue reading...