Sergey Brin spends $45M in fight against California billionaire tax

5 hours ago

Sergey Brin, a Google founder, has donated $25m to a Super Pac opposing California's proposed wealth tax, adding to his previous $20m contribution.
Former Google CEO Eric Schmidt also contributed $1.02m to the campaign against the tax, bringing his total donations to over $3m.
The California Billionaire Tax Act proposes a one-off 5% tax on billionaires' assets to fund education, food assistance, and healthcare programs.
Brin and Schmidt are among several billionaires who have reportedly left California, possibly to avoid the tax.
The Super Pac, Building a Better California, is also sponsoring a separate ballot measure called 'Protect Retirements' to block retroactive taxes.
Other tech leaders, including Peter Thiel and Chris Larsen, have also donated to campaigns opposing the billionaire tax.
Brin has become more politically active, attending a White House dinner and supporting various political campaigns.
Schmidt has worked with both the Obama and Biden administrations but has less presence in the Trump White House.

Hasty Briefsbeta