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Sergey Brin Has Spent $102M Fighting California Wealth Tax
Brin’s donation tops $100 million as opponents spend nearly $100 million on ads in a close fight over a one-time wealth tax.
- Google co-founder Sergey Brin donated $102 million over the last year to Building a Better California, a group opposing Proposition 40, a proposed one-time 5% tax on California residents with assets over $1 billion.
- Proponents introduced Proposition 40 to address an estimated $20 billion annual federal health care funding shortfall, aiming to raise $100 billion to support the state's Medi-Cal program for about five years.
- Billionaires Peter Thiel, John Doerr, and Patrick Collison joined Brin in financing the opposition, enabling the coalition to reserve nearly $100 million in ad time to urge voters to reject the measure.
- While Newsom advocates for a national wealth tax instead, the 'Yes' campaign and labor unions have spent hundreds of thousands of dollars on get-out-the-vote efforts despite trailing significantly in ad spending.
- Brin's donation reflects a broader rightward shift among tech leaders in recent years, though University of Washington historian Margaret O'Mara notes that Silicon Valley's techno-optimist values increasingly clash with public skepticism of tech influence.
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13 Articles
13 Articles
Google co-founder Sergey Brin has allocated just over $100 million to a group that is trying to defeat a one-time state tax on California billionaires this November.
Coverage Details
Total News Sources13
Leaning Left0Leaning Right0Center11Last UpdatedBias Distribution100% Center
Bias Distribution
- 100% of the sources are Center
100% Center
C 100%
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