Sergey Brin has poured more than $100 million into the California billionaire tax fight as Prop 40 heads toward the ballot.
Sergey Brin is spending heavily to stop the California billionaire tax. The Google co-founder has now committed more than $100 million to fight Prop 40, a proposed one-time levy that would hit the wealth of about 200 billionaires in the state.
Brin’s latest move came with another $20 million donation to Build a Better California, the group opposing the measure, according to a recent filing. His net worth is estimated at about $267 billion, and the tax debate has put a massive dollar figure on the line for him and other ultra-wealthy Californians. The proposal would apply a 5% tax on net worth and is expected to raise money for California’s healthcare programs.
The fight over the California billionaire tax has become one of the state’s most watched ballot battles because it reaches far beyond a single donor. Governor Gavin Newsom has said he opposes the measure and supports a national billionaire tax instead. In a post on Substack, Newsom argued that an office worker can end up paying a higher tax rate than an heiress and said the country should end what he called the “tax-free lifestyle loan,” describing it as a loophole that allows the wealthy to borrow against stock holdings while reporting no taxable income.
“Sergey Brin has poured more than $100 million into the California billionaire tax fight as Prop 40 heads toward the ballot.”
The measure also faces an uncertain path because of competing ballot initiatives that could undercut it. One proposal that advanced to the ballot would require audits of programs funded by new state special taxes, and the California Secretary of State said in June that it was the first of several measures backed by Build a Better California to qualify.
The broader backdrop is tightening budget pressure in California. Trump’s budget cuts are expected to take shape next year, and the state’s Medicaid program alone is projected to lose up to $30 billion in federal funding. Supporters of the tax are pitching it as a way to help protect public services, while opponents are trying to derail it before voters decide.
Brin is not the only billionaire acting to shield his fortune from the tax fight. Meta founder Mark Zuckerberg reportedly bought a $170 million mansion near Miami this year, and venture capitalist Peter Thiel, former Uber chief Travis Kalanick and Google co-founder Larry Page have also left California. Nvidia co-founder Jensen Huang, by contrast, has said he is “perfectly fine” paying the billionaire tax. For California voters, the outcome will shape how the state tries to fund health care and whether a new tax on extreme wealth can survive the political and legal crosscurrents. The bottom line: the California billionaire tax could affect state health funding and signal how far voters are willing to go on taxing extreme wealth.
Frequently asked questions
What is Prop 40 in California?
Prop 40 is a proposed one-time 5% tax on the net worth of about 200 billionaires living in California. The money would go toward the state’s healthcare programs.
How much has Sergey Brin spent against the measure?
Brin has spent more than $100 million fighting the proposal. His latest reported contribution was another $20 million to Build a Better California.
What is Governor Gavin Newsom’s position?
Newsom says he opposes the state measure and wants a national billionaires’ tax instead. He also criticized what he called the “tax-free lifestyle loan.”
Why does the tax fight matter now?
California faces pressure on its budget, including a projected loss of up to $30 billion in federal Medicaid funding next year. That makes the fight over new state revenue more important.
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