Google Co-Founder Sergey Brin Doubles Down With $45M Investment to Block California Billionaire Tax
Key Takeaways
- ▸Sergey Brin has invested $45 million total in opposing California's proposed 5% billionaire wealth tax through the Super PAC 'Building a Better California'
- ▸Other tech executives including Eric Schmidt, Peter Thiel, and DoorDash CEO Tony Xu have collectively donated millions to block the measure
- ▸Brin relocated from California to Nevada in late 2024, potentially circumventing a tax bill that could exceed $12 billion on his $247 billion net worth
Summary
Sergey Brin, Google co-founder and former Alphabet president, has dramatically escalated his financial campaign against California's proposed billionaire tax, bringing his total contributions to $45 million. Brin donated an additional $25 million to the Super PAC "Building a Better California" on top of a previous $20 million contribution, joining other tech leaders including former Google CEO Eric Schmidt in opposing the measure. The California Billionaire Tax would impose a one-time 5% tax on assets exceeding $1 billion, with projections suggesting Brin could face a bill exceeding $12 billion. Notably, Brin relocated to a $42 million estate in Nevada at the end of 2024, with PAC filings now listing a Reno address, potentially allowing him to avoid the wealth tax that would apply to California residents as of January 1, 2026.
- The opposition campaign focuses on a counter-measure called 'Protect Retirements' designed to ban retroactive taxes and limit the billionaire tax's scope
