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The ultra-rich are descending on California politics.

In the span of a week, Netflix co-founder Reed Hastings, venture capitalist Michael Moritz and Berkshire Hathaway heir Charles Munger Jr. have poured millions into the redistricting map fight. Fellow billionaire Rick Caruso, who said he’s “seriously looking” at either a run for California governor or mayor of Los Angeles next year, is also expected to financially back the measure.

California has long served as a political ATM, thanks to the sheer number of billionaires living there. Of the world’s 500 richest people, 51 reside in California, according to the Bloomberg Billionaires Index. But Gavin Newsom’s redistricting fight is expected to test his ability to shake money out of the state’s upper branches as some megadonors have signaled their hesitation to back the November ballot measure, which the governor has pitched as an effort to counter similar moves in Texas.

So far he’s leaned on supporters like Hastings, who was the top individual donor to his anti-recall campaign in 2021 and re-upped his support for Newsom with a $2 million check last week. On Wednesday, Moritz, who has spent hundreds of millions on reshaping San Francisco, topped Hastings with a $2.5 million donation. More billionaires, like Caruso and Ripple Chairman Chris Larsen, are expected to donate in support.

They’ll be facing some deep-pocketed opposition, which has already shown a willingness to spend big. Munger Jr., son of Warren Buffett’s longtime partner at Berkshire Hathaway, has given $20 million to help flood the airwaves with ads against the proposal.

With the price of a ballot measure in California easily surpassing $100 million—and early signs that this one could hit $200 million—both sides will be working to round up cash. Being home to a quarter of the country’s billionaires should help. —Biz Carson

Netflix co-founder Reed Hastings. Photographer: David Paul Morris/Bloomberg

The Latest

Up Front

The peak of California’s wildfire season is only just beginning, and the outlook is dire. Nearly 40% of the state is in drought, and with the notorious Santa Ana and Diablo winds poised to whip up in the coming weeks, a single spark could roar into a fast-moving blaze across a parched landscape.

The year already has been devastating. In January, the Eaton and Palisades fires killed 31 people in the Los Angeles area, making them the state’s second- and third-most destructive wildfires on record. By the end of August, more than 6,500 fires had scorched 425,680 acres statewide. Now fire officials are warning that the worst is likely ahead as hot, dry winds peak in October and November.

The risk may seem less obvious to coastal residents who enjoyed a relatively mild summer, but higher elevations have baked in above-average warmth. “It’s been a relatively cool summer in places like San Francisco and LA,” says UC climate scientist Daniel Swain. “But the same isn’t true for California’s mountains and foothills.”

Most blazes are sparked by human activity—cars, power lines, even lawn equipment. To curb the threat, utilities sometimes cut power during wind events. But officials say no community is immune. “Even urban areas can be wildfire-prone,” said Cal Fire’s David Acuña. He urged residents to keep evacuation kits ready, map out escape routes, and prepare for what could be the fiercest months of 2025. —Brian K Sullivan and Lauren Rosenthal

A firefighter near smoke from the Gifford Fire in Los Padres National Forest. Photographer: Eric Thayer/Getty Images

More From Bloomberg California

Opinion

Google’s antitrust loss feels a lot like winning, writes Dave Lee. While the ruling requires the search giant to refrain from certain exclusivity deals and asking for preferential app placement, it won’t be forced to sell its Chrome browser or Android operating system. And it can keep shoveling billions of dollars a year to Apple to help attract search traffic from iPhone users.

More opinions:

• Musk has a new master plan for Tesla. Uh oh.: Liam Denning
• The Intel stake is industrial policy at its worst: Joel Michaels
• Why Netflix's KPop Demon Hunters is a hit: Catherine Thorbecke

Today’s Big Number

Tech and Tinsel

A judge ruled Google doesn’t have to sell Chrome, but must share some of its online search data with rivals. The ruling allows the company to keep paying third parties for default browser placement in browsers and on mobile devices.

Paramount made a deal with Microsoft to make a live-action film based on the Call of Duty video game franchise. The move is the latest in a string of deals CEO David Ellison has struck since buying the studio in August.

Apple plans to launch an AI-powered search tool next spring, stepping up competition with OpenAI, Perplexity and Google. The system is designed to function as an “answer engine” that lets users search the internet.

In other Apple news, the company’s lead AI researcher for robotics left the company to join Meta, part of an exodus of AI talent from the iPhone maker. In recent weeks, a team central to the creation of Apple Intelligence has lost 10 members.

Warner Bros. Discovery may sell a 20% stake in its studio and streaming business ahead of its planned split next year. CFO Gunnar Wiedenfels will lead Discovery’s TV businesses, with CEO David Zaslav helming the studio and streaming units.

NBC has already sold 90% of its ad slots for the upcoming NFL season, with the 2026 Super Bowl fully booked, making this its highest-grossing football lineup ever. The season kicks off Thursday with the Dallas Cowboys facing the Philadelphia Eagles.

The Eagles and Cowboys square off in Philadelphia in 2024. Photographer: Mitchell Leff/Getty Images North America

Words of the Week

Before You Go

Marilyn Monroe’s last home dodged the wrecking ball, with a judge siding with Los Angeles to preserve it as a historic landmark. The Brentwood house—where Monroe lived for six months before her death in 1962—was snapped up in 2023 for $8.4 million by the daughter of a prominent Cleveland real estate developer and reality TV producer Roy Bank.

An aerial view of Marilyn Monroe's final home in the Brentwood neighborhood. Photographer: Mario Tama/Getty Images North America

Luxury-goods billionaire Bernard Arnault is moving forward with