Democrats Split on 5% Wealth Tax as Tesla Loses Global Lead to China’s BYD

California is weighing a one-time 5% tax on billionaires and their trusts, a proposal that could raise $100 billion for healthcare but has split Democrats and sparked warnings about businesses and jobs leaving the state. Meanwhile, Tesla has been overtaken as the world’s top electric vehicle seller by China’s BYD, after a year of falling deliveries, rising competition, and shifting consumer preferences.