Brin's $102M Anti-Wealth Tax Push in California

Google co-founder Sergey Brin has donated $102 million to an anti-wealth tax campaign in California. The measure, known as Proposition 40, would impose a one-time 5% tax on state residents with net worth over $1 billion.

Brin's donation, made through the group Building a Better California, is aimed at defeating the tax and protecting his own wealth. According to Bloomberg's billionaires index, Brin has an estimated net worth of $270 billion, which would be hit by nearly $14 billion under the proposed tax.

The battle over Proposition 40 has become one of the most expensive in the country, with opponents spending nearly $100 million on ads to reach voters. The measure's proponents argue that it is necessary to address federal funding cuts to public programs, but opponents claim it would harm the state where they built their businesses and fortunes.