CA, US & World
Google Co-Founder Sergey Brin Spends $102 Million Opposing California Wealth Tax
Google co-founder Sergey Brin has contributed $102 million to efforts opposing California's proposed billionaire tax.
Proposition 40, which will appear on the November 3 ballot, would impose a one-time tax of up to 5% on certain assets held by California residents with more than $1 billion in covered assets.
The measure would direct 90% of the revenue toward healthcare, with the remaining 10% going toward food assistance or education-related programs. State analysts estimate the tax could generate tens of billions of dollars over several years.
Brin's contributions are going to Building a Better California, a group opposing Proposition 40 and supporting other ballot measures that could limit its impact. Campaign finance records show the group has received millions from other wealthy donors as well.
Opponents argue the tax could hurt California's economy and encourage wealthy residents to leave the state. Supporters say the money is needed to help offset federal healthcare funding cuts.
More than $200 million has now been raised by groups on both sides of the billionaire tax fight.
By: NBC Palm Springs
September 29, 2026
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