Schmidt vs Brin: Google Billionaires Clash Over California Tax Campaign

Google's former CEO Eric Schmidt is reportedly at odds with his co-founder Sergey Brin over how their donations are being used in California. The two billionaires have contributed millions to Building a Better California, a political organisation fighting Proposition 40, a proposed one-time wealth tax targeting residents worth more than $1 billion.

According to reports, Schmidt is unhappy because the funds are also being used to support other ballot measures, including Propositions 41 and 42. Proposition 41 would require state audits of programmes funded by new special taxes, while Proposition 42 aims to restrict retroactive taxation and counter the proposed wealth tax.

Schmidt's advisor told Fortune that he is not 'irate' over the Democratic Party's endorsement of Proposition 40, but rather focused on defeating the billionaire tax. However, the use of campaign funds for other measures has reportedly become a source of frustration for Schmidt.