Facebook billionaire Sean Parker spent $500,000 to help legalise recreational weed in California

A newly formed committee that aims to legalise recreational marijuana use in California has raised $1.25 million to get started.

Among the list of donors is Silicon Valley venture capitalist and early Facebook exec Sean Parker. He gave $500,000 to the fund, via his charitable Sean N. Parker Foundation.

The group has proposed legalizing the recreational use of marijuana in California, and taxing retail sales of it 15%.

The coalition first came to light in November, and Parker was involved from the get go, promising back then that he would back it with money, perhaps millions of dollars, the LA Times reports. His official statement sent to multiple news outlets at the time explained:

It’s very encouraging to see a vibrant community of activists … coming together around a sensible reform-based measure that protects children, gives law enforcement additional resources and establishes a strong regulatory framework for responsible adult use of marijuana — one that will yield economic benefits for all Californians.

Parker helped found Napster and is a billionaire thanks to his early involvement in Facebook, and he’s also known for his fabulous and outrageous parties. He isn’t the only big name behind the initiative. Lt. Gov. Gavin Newsom, who chaired California’s Blue Ribbon Commission on Marijuana Policy, also endorsed the measure, reports the Chronicle.

NOW WATCH: This 14-year-old makes up to $1,500 a night eating dinner in front of a webcam in South Korea

NOW WATCH: Tech Insider videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.