Sergey Brin and 11 other billionaires and tech elite against California's Tax

4 hours ago

California is voting in November on a billionaire tax after Gov. Gavin Newsom failed to broker a deal.
Tech billionaires have contributed over $120 million to oppose the tax, compared to $31 million from the primary backer, SEIU-UHW.
Sergey Brin donated $82 million, the largest contribution, through the 'Building a Better California' committee.
Other major donors include John Doerr ($10M), Chris Larsen ($2.5M), Michael Moritz ($7.5M), Patrick Collison ($7M), Eric Schmidt ($3M), Peter Thiel ($3M), Stewart Resnick ($2.5M), Tony Xu ($2M), Max Levchin ($1M), Ron Conway ($100K), and Daniel Tierney ($500K).
The tax proposal is a one-time 5% wealth tax on state residents and trusts with assets over $1 billion.

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