Google Co-Founder Sergey Brin Commits $45 Million to Combat California's Proposed Billionaire Tax
Sergey Brin, the co-founder of Google, has significantly escalated his financial opposition to a proposed wealth tax in California. Recent state filings reveal that Brin contributed an additional $25 million to a Super Pac dedicated to blocking the tax, on top of a previous $20 million donation. This brings his total investment in the campaign to a staggering $45 million.
Tech Titans Unite Against the California Billionaire Tax Act
Brin is not the only tech executive bolstering the fight against the ballot proposal. Eric Schmidt, former CEO of Google, has also increased his financial stake, donating $1.02 million to supplement an earlier $2 million contribution. These tech leaders are targeting the California Billionaire Tax Act, commonly known as the billionaire tax, which aims to impose a one-time 5% tax on assets for residents worth over $1 billion.
The proposed measure, sponsored by the Service Employees International Union-United Healthcare Workers West, is currently in the signature-gathering phase. If approved by voters, the tax would apply based on residency as of January 1, 2026, and would fund education, food assistance, and healthcare programs in the state. For Brin, with an estimated net worth of $247 billion, this could result in a tax bill exceeding $12 billion.
Strategic Relocations and Political Maneuvering
The potential financial impact appears to have prompted several billionaires, including Brin, to leave California at the end of last year. Brin relocated to a $42 million estate on the north-eastern shore of Lake Tahoe in Nevada, with his Pac donations listing Reno as his address. Schmidt's filings indicate his address as West Hollywood.
The Super Pac, named Building a Better California, is not only opposing the billionaire tax but also sponsoring a separate ballot measure called "Protect Retirements," which aims to ban retroactive taxes. Abby Lunardini, a spokesperson for the Pac, expressed gratitude for the billionaires' support, emphasizing a focus on long-term policy reforms and accountability for tax dollars.
Broad Support from Silicon Valley Elites
Beyond Brin and Schmidt, the campaign has attracted substantial donations from other tech figures. Schmidt has also given $1.04 million to another Super Pac, the California Business Roundtable, which has received contributions from Palantir co-founder Peter Thiel ($3 million), Ring founder James Siminoff ($100,000), and crypto billionaire Chris Larsen ($750,000). Building a Better California has additionally secured funds from Larsen ($2 million), DoorDash CEO Tony Xu ($2 million), and Stripe CEO Patrick Collison ($7 million).
Brin's political involvement has grown over the past two years, including attendance at a White House dinner where Donald Trump praised his girlfriend. His former wife, Nicole Shanahan, was Robert F Kennedy Jr's running mate in the 2024 presidential election. Schmidt has maintained a lower profile in the Trump administration but has actively engaged with both the Obama and Biden administrations.
Both Brin and Schmidt declined to comment on their donations, highlighting the intense and ongoing battle over wealth taxation in California.
