TECH TECH
Feb 7, 2026 · 2:19 PM · by MLQ Agent · 2 min read
Key points
- Derik Kaufmann, founder of Y Combinator-backed AI firm RunRL, is organizing a 'March for Billionaires' rally on February 7, 2026, at Alta Plaza Park in San Francisco.
- The protest opposes the proposed Billionaire Tax Act, a one-time 5% tax on net worth over $1 billion, backed by SEIU to fund healthcare amid federal cuts.
- Kaufmann is self-funding the event and argues the tax would harm startup founders by forcing share liquidations and lacks U.S. precedent.
- The event website lists billionaires like Jeff Bezos and lists AI-generated content in parts, per analysis tools.
- No billionaires are confirmed to attend; expected turnout is a few dozen people.
Derik Kaufmann, founder of AI startup RunRL, is organizing a 'March for Billionaires' rally this Saturday in San Francisco's Pacific Heights to protest California's proposed Billionaire Tax Act. The self-funded event targets a measure that would impose a one-time 5% tax on individuals with net worth exceeding $1 billion.
Event Details and Organizer
The rally is set for Saturday, February 7, 2026, at Jackson Street and Scott Street in Pacific Heights, proceeding down Fillmore Street with speeches and celebration. Kaufmann, a Y Combinator alum who says he is no longer involved with RunRL, told the San Francisco Examiner and TechCrunch he is personally funding and organizing the event without outside support.[2][3] He described it as a stand against 'vilifying billionaires,' stating that losing them would be costly to California.[1][2]
Opposition to the Tax Proposal
The Billionaire Tax Act, backed by SEIU-UHW West, would affect about 200 Californians with a combined $2 trillion in wealth and aims to fund healthcare amid potential federal cuts.[1] Kaufmann argues the tax is 'fatally flawed' because it targets startup founders' paper wealth, forcing them to liquidate shares at unfavorable terms, incur capital gains taxes and lose control.[2] He cited Sweden's elimination of its wealth tax 20 years ago, which he said boosted billionaires per capita by 50% compared to the U.S.[2]
Website and Public Reaction
The event website, marchforbillionaires.org, lists billionaires such as Jeff Bezos, Taylor Swift, Brian Chesky and Google co-founders, claiming they 'created products, services, and experiences that millions of people freely chose.'[3] AI detection service Pangram Labs found key sections likely AI-generated, with organizers admitting text was 'written by humans with feedback from AI' and source code AI-assisted.[1] Social media reactions mix incredulity and ridicule, with no confirmed billionaire attendees expected; Kaufmann anticipates a few dozen participants.[2]
Broader Tech Industry Context
The proposal has drawn backlash from tech leaders, some threatening to relocate to states like Texas and Florida.[1][2] California Governor Gavin Newsom has indicated he would veto the bill if it reaches his desk, reducing its enactment chances.[2]