Marc Benioff hails Proposition C, a tax to help San Francisco homeless

Salesforce CEO Marc
Benioff.
Kimberly White /
Stringer

• Proposition C, a measure which will tax San Francisco’s
  largest companies in order to combat homelessness, passed on
  Tuesday.
• Salesforce CEO Marc Benioff has been a vocal proponent
  of Prop C and hailed the victory in a tweet.
• Prop C would target Salesforce, which Benioff has
  estimated will pay between $10 million and $11 million a
  year.

Marc Benioff has tweeted jubilantly following the success of
Proposition C.

The tax scheme was voted through on Tuesday during the US
midterms. It will tax big San Francisco companies whose gross
annual receipts total $50 million to raise money to combat the
city’s homelessness crisis.

Benioff, the billionaire Salesforce CEO, has been a vocal
proponent of Prop C, which has divided tech CEOs in recent weeks,
with the debate spilling over on to social media.

In October, he publically
argued with Twitter CEO Jack Dorsey, who thinks there is a
better way to tackle homelessness, and later said: “You’re either
for the homeless and for the kids and for the hospitals, or
you’re for yourself.” He also locked horns with
Zynga’s chairman and cofounder Mark Pincus.

Read more:

Salesforce CEO Marc Benioff on his Twitter beef with Jack Dorsey:
You’re either ‘for the homeless’ or ‘you’re for
yourself’

On Tuesday, Prop C, which has been predicted to raise between
$250 million and $300 million beginning in 2019,
passed with 60% of the vote in San Francisco, and Benioff
celebrated on Twitter.

Benioff’s company Salesforce would be among the firms targeted by
the tax, and Benioff has said it would have to pay between $10
million and $11 million a year into the scheme.

Critics of the tax, including
San Francisco Mayor London Breed, said that Prop C was
ill-built to fully address the city’s homelessness crisis. The
scheme is also known as the “Our City, Our Home” initiative.