Brin Pours Over $100M into Fighting California Billionaire Tax

Google co-founder Sergey Brin has donated $102 million to Building a Better California, a group opposing the proposed billionaire tax in California. The tax aims to fund healthcare and would impose a one-time 5% tax on billionaires' assets.

The proposal has faced growing opposition from wealthy individuals, including Brin, who relocated to Nevada and is buying property elsewhere due to his concerns about socialism. Other contributors to Building a Better California include venture capitalists Ron Conway and John Doerr, as well as executives from companies such as DoorDash and Ripple.

Voters will weigh in on the tax proposal, known as Proposition 40, and two opposing ballot measures, Propositions 41 and 42, in November. Supporters of the billionaire tax argue that it would raise tens of billions of dollars to offset federal funding cuts and fund healthcare, education, and food assistance.