Proposition 40 — the billionaire wealth tax — had the support of about 43% of ballots cast as of 8:33 p.m, according to preliminary returns from the California Secretary of State. The Associated Press estimates about 41% of votes had been counted. There are also two billionaire-backed measures on the ballot — Propositions 41 and 42 — that would void the tax if either wins majority support; those measures would also need to surpass Prop. 40 in votes to have that impact.