Google Co-Founder Sergey Brin Spending More than $100 Million Fighting California Wealth Tax
The funding backs a campaign against Proposition 40, which would impose a one-time 5% tax on billionaire wealth and raise about $100 billion.
- Google co-founder Sergey Brin has contributed more than $100 million to defeat California's proposed Proposition 40 wealth tax. His latest $20 million donation marks a major escalation in campaign spending against the ballot measure.
- Proposition 40 would impose a one-time 5% tax on California billionaires' net worth to fund state healthcare programs. Supporters argue the wealth of the state's richest residents could offset serious funding pressures.
- Brin, who relocated to Nevada to avoid the tax, compared the measure to "Soviet-style socialism" his family fled. He also funds Building a Better California, an advocacy group combating the ballot initiative.
- Meta founder Mark Zuckerberg purchased a $170 million property near Miami this year, while Nvidia CEO Jensen Huang said he remains comfortable with the tax despite potential $8 billion exposure.
- California voters will decide Proposition 40's fate on November 3, with the clash reflecting broader national debate over taxing the ultra-wealthy while maintaining economic competitiveness.
18 Articles
18 Articles
Google co-founder Sergey Grin has poured more than $100M against California's proposed billionaire wealth tax
The battle over a potential tax on billionaire assets in California is heating up as massive amounts of money pour into the state campaign scene. Google co-founder Sergey Brin has contributed a staggering $102 million this year to a group called Building a Better California, which is actively working to block a proposed wealth tax, the Los Angeles Times reported. This massive financial backing highlights the intensity of the fight between the st…
Google co-founder Sergey Brin has now contributed over $100 million against billionaire tax
By Rajwa Quasim Google co-founder Sergey Brin has now contributed more than $100 million to Build a Better California, including the recent $20 million contribution in efforts to oppose the California’s proposed billionaire tax. Building a Better California is an advocacy group with an associated PAC founded with $35 million in funding from Brin, former Google CEO Eric Schmidt, and other billionaires to combat the proposed tax on the wealth of b…
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