Sergey Brin alone donated $82 million to defeat the measure — from a committee of fewer than a dozen donors that raised $118 million total.

The wealth tax has qualified for the November ballot, but a Gavin Newsom–brokered deal could still kill it.

"I want a Democratic party that will stand for the working class," said Rep. Ro Khanna, a supporter of taxing billionaire wealth. "Whose side are you on?"