A Google founder has more than doubled his financial contribution to the fight against a proposed wealth tax in California. New filings with the state show that former Alphabet president Sergey Brin donated $25m to a Super Pac dedicated to blocking the tax on top of $20m he had already given.
Brin is not alone among Google’s top brass in upping his financial stake in the campaign against the ballot proposal. The company’s former CEO Eric Schmidt donated $1.02m, adding to a previous $2m contribution.
The tech titans are battling the California Billionaire Tax act, often referred to simply as the billionaire tax. It’s a proposed ballot measure that would require any California resident worth more than $1bn to pay a one-off, 5% tax on their assets to help cover education, food assistance and healthcare programs in the state. It’s sponsored by the Service Employees International Union-United Healthcare Workers West, and is still in the signature-gathering phase.
If the measure reaches the ballot and gains voters’ approval, the tax would apply to billionaires based on their residency as of 1 January 2026. For Brin, worth about $247bn, the bill would likely be upwards of $12bn. That stipulation appears to have caused him and several other billionaires to leave California at the end of last year. Brin relocated to a $42m estate on the north-eastern shore of Lake Tahoe in Nevada, and his Pac donations show Reno as his address. Schmidt’s filings show his address as West Hollywood.
The Super Pac that Brin and Schmidt most recently donated to is called Building a Better California. Among other initiatives, it’s dedicated to sponsoring a separate ballot measure called “Protect Retirements” that would kneecap the billionaire tax by banning retroactive taxes. The Pac’s motto is “California’s best days are ahead”.
Abby Lunardini, a spokesperson for Building a Better California, said the group is thankful for the billionaires’ support and is focused on long-term policy reforms in the state. “We believe in public investments in housing, infrastructure, and education, but also that Californians deserve more accountability and safeguards for their tax dollars,” she said.
Brin donated $20m to Building a Better California in January, bringing his total donations to the Pac to $45m. Brin has also contributed to the state’s gubernatorial campaigns of Steve Hilton, the Republican frontrunner, and Democrat Matt Mahan, who is seen as tech-friendly and is a favorite among Silicon Valley elites.