Google Co-Founder Sergey Brin Spends $100 Million to Block California Billionaire Tax

Clear Facts

• Google co-founder Sergey Brin has given more than $100 million to defeat a proposed one-time California wealth tax on billionaires.
• The measure appears on the November ballot and would impose a 1% tax on individuals with assets over $1 billion.
• The tax is structured as a one-time levy targeting California residents with net worth exceeding $1 billion.

Sergey Brin, the Google co-founder whose fortune exceeds $100 billion, has emerged as the leading financial backer against a California ballot initiative that would impose a one-time wealth tax on billionaires. The measure, if passed, would require residents with net worth over $1 billion to pay 1% of their assets to the state.

Brin has contributed over $100 million to a campaign committee working to defeat the proposition. His spending represents the largest single donation in the effort to block the tax from taking effect.

The initiative targets roughly 150 California billionaires and would generate an estimated $22 billion in revenue if enacted. Opponents argue the tax would drive wealthy residents and businesses out of the state.

“This tax would punish success and drive innovation out of California,” one campaign spokesman stated.

Brin and his former Google partner Larry Page built one of the world’s most valuable companies from a Stanford University garage. Their wealth stems from creating products used by billions worldwide.

The campaign against the wealth tax has drawn support from business leaders who argue that California’s existing tax burden already ranks among the highest in the nation. They contend additional levies would further damage the state’s competitiveness.

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