Google Co-Founder Sergey Brin Donates $100M+ to Fight Billionaire Tax

Brin's latest $20 million contribution brings his total giving to Build a Better California, an advocacy group and associated PAC, to over $102 million. The group was founded with $35 million from Brin, former Google CEO Eric Schmidt, and other billionaires to fight the wealth tax.

If Proposition 40 passes, it would impose a one-time 5% tax on the accumulated wealth of California billionaires. The measure, sponsored by SEIU United Healthcare Workers West, is projected to raise around $100 billion for state healthcare, food assistance, and public education. Brin, with a net worth of $267 billion, would face a tax bill of roughly $13.3 billion.

The initiative emerged as a response to anticipated federal budget cuts, but has drawn criticism from groups like Planned Parenthood and the California Medical Association, which call it a flawed approach. The California Teachers Association argues it would not provide stable long-term funding and could drive wealthy residents out of state.

Governor Gavin Newsom rejected a compromise to lower the tax to 2%, instead voicing support for a federal wealth tax. He wrote that billionaires can easily relocate to lower-tax states, and backed a 'modern Buffett Rule' to ensure the ultra-wealthy pay at least the same rate as their workers.

Brin has already moved to Nevada, joining other tech figures like Larry Page, Peter Thiel, and Travis Kalanick who have left California. The measure has drawn endorsements from Senator Bernie Sanders and Labor Secretary Robert Reich, while Nvidia CEO Jensen Huang said he has not thought about the tax and is fine with whatever applies.