Google co-founder Sergey Brin has now spent more than $100 million to oppose California's proposed billionaire tax, known as Prop 40. A recent filing shows an additional $20 million donation to Build a Better California, an organisation advocating against the tax.
Prop 40 would impose a one-time 5% tax on the net worth of around 200 billionaires residing in the state. Brin, whose net worth is approximately $267 billion, could face an estimated $13.3 billion tax payment if the measure passes.
The proposed tax revenue is largely intended to fund California's healthcare programmes. Governor Gavin Newsom has also expressed concerns about billionaires and their businesses leaving California due to the tax, instead calling for a "national billionaires' tax."
Other tech figures, including Meta founder Mark Zuckerberg and former Uber CEO Travis Kalanick, have reportedly left the state. However, Nvidia co-founder Jensen Huang stated he is "perfectly fine" with paying the tax, which for him would be around $8 billion.