Google co-founder spends $45m in fight against California billionaire tax
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Google co-founder Sergey Brin has donated $45 million to a Super PAC fighting the "California Billionaire Tax Act," a proposed ballot measure that would impose a one-time 5% tax on California residents with over $1 billion in assets. The tax aims to fund education, food assistance, and healthcare programs. Brin's increased financial contribution, along with donations from former Google CEO Eric Schmidt, supports the "Building a Better California" PAC, which opposes the billionaire tax and promotes alternative policy reforms. The PAC is also sponsoring a separate ballot measure to ban retroactive taxes, potentially hindering the billionaire tax. The proposed tax, if approved, would apply to billionaires based on their residency as of January 1, 2026, potentially costing Brin upwards of $12 billion.
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