Tech billionaires are spending unprecedented sums in California races
3 hours ago
- #Silicon Valley
- #campaign finance
- #political influence
- Tech billionaires have spent hundreds of millions of dollars influencing California's June 2 primary election.
- Sergey Brin contributed $66 million to oppose a billionaire tax on the November ballot.
- Crypto mogul Chris Larsen funded three Super PACs with $26 million to sway various campaigns.
- Google and Meta jointly funded a Super PAC with $10 million to support state assembly and senate candidates.
- Matt Mahan, a Democratic gubernatorial candidate, received nearly $50 million from tech executives.
- The tech industry spent $39 million on state lobbying in 2025, highlighting California's regulatory importance.
- Tech money targets local races, with significant funding directed at city primaries and ballot measures.
- Experts warn that disclosed spending is 'just the tip of the iceberg,' with dark money also in play.