Californians reject wealth tax for billionaires

California voters have voted to reject a wealth tax on its billionaires.

The ballot proposal would have levied a one-time tax on the state's mega wealthy to help fund healthcare. It took nearly a week of counting votes after the midterm election to determine a projection on the measure.

There are about 200 billionaires in the state, including Meta's Mark Zuckerberg, reality television star Kim Kardashian and media mogul Oprah Winfrey.

Proposition 40 targeted Californians with a wealth of more than $1.1bn (£800m) with a 5% tax on their total wealth, including assets such as shares as well as income. It failed amid divisions among Democrats and labour unions.