Wealthy Donors Give $350 Million On California Initiatives

SACRAMENTO (AP) — An astonishing $350 million has been raised so far to sway voters on 11 California ballot initiatives.

While much of the money has come from labor and business groups, a significant share has come from the ultra-wealthy. Californians can thank a handful of billionaires and millionaires for jamming airwaves and mailboxes with a barrage of advertising.

The causes range from Gov. Jerry Brown’s Proposition 30 tax increase to a labeling requirement for genetically modified food. Proponents and opponents of Proposition 32, which seeks to undercut labor’s clout, will likely end up spending more than $120 million.

The rich who are pouring money into campaigns include a brother and sister with divergent political views and an insurance tycoon who is asking Californians to give insurance companies more leeway to set rates.

Copyright 2012 The Associated Press.


More From CBS Sacramento

Tickets to aftershock now on sale
Follow Us On Facebook

Listen Live