Brin's Billionaire Battle: Google Co-Founder Spends $102 Million Fighting CA Wealth Tax

Google co-founder Sergey Brin has poured $102 million into Building a Better California, a group fighting against a proposal to tax the assets of California billionaires. This year's donation brings his total contribution to over $100 million, according to data from the California Secretary of State. The proposed wealth tax would impose a one-time 5% tax on billionaires' assets, with 90% of the revenue going towards healthcare and 10% towards education and food assistance.

The Legislative Analyst's Office estimates that the tax would raise roughly $100 billion to offset federal funding cuts. Brin's net worth is $284 billion, making him the world's fourth-richest person, according to the Bloomberg Billionaires Index.

Building a Better California is backing two ballot measures, Propositions 41 and 42, which supporters of the billionaire tax say are meant to 'trick voters' into nullifying the wealth tax. The group also declined to comment on Brin's contributions.