Brin Leads Billionaire Opposition Against Proposed California Tax

Google co-founder Sergey Brin has contributed over $100 million to Build a Better California, an advocacy group opposing California's proposed billionaire tax. The group was founded with $35 million in funding from Brin and other billionaires, including former Google CEO Eric Schmidt.

The proposed billionaire tax, Proposition 40, would impose a one-time 5% tax on the accumulated wealth of California billionaires, generating around $100 billion in revenue for state healthcare programs and education. If approved, billionaire taxpayers like Brin would pay significantly more: he could owe up to $13.3 billion on his net worth of $267 billion.

Several organizations have spoken out against the proposed tax, including Planned Parenthood, the California Medical Association, and the California Teachers Associations. They argue that it's a 'flawed response' to healthcare funding cuts and would discourage investment in the state.