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Google Co-Founder Who Stands to Lose Billions Spends $100M to Defeat Proposed Calif. 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.
- Newsom opposes the measure, advocating instead for a national wealth tax, while the Yes campaign and labor unions spent hundreds of thousands on get-out-the-vote efforts despite trailing in ad spending.
- Brin's significant donation reflects a broader rightward shift among tech leaders, though historian Margaret O'Mara notes these techno-optimist values increasingly clash with an American public skeptical of the industry's influence.
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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.
Google co-founder who stands to lose billions spends $100M to defeat proposed Calif. wealth tax
Google co-founder Sergey Brin has provided more than $100 million to a group working to defeat a one-time California state tax on all billionaires on the ballot in November.
·San Diego, United States
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Total News Sources14
Leaning Left0Leaning Right1Center11Last UpdatedBias Distribution92% Center
Bias Distribution
- 92% of the sources are Center
92% Center
C 92%
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