{"id":429492,"date":"2026-08-11T05:26:13","date_gmt":"2026-08-11T05:26:13","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ca\/429492\/"},"modified":"2026-08-11T05:26:13","modified_gmt":"2026-08-11T05:26:13","slug":"sergey-brin-spends-100m-fighting-california-billionaire-tax","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ca\/429492\/","title":{"rendered":"Sergey Brin spends $100M fighting California billionaire tax"},"content":{"rendered":"

Google co-founder Sergey Brin<\/a>, the world\u2019s fourth-richest man, has now spent more than $100 million to fight the Billionaire Tax and avoid shelling out an estimated $13.3 billion.<\/p>\n

Brin\u2019s net worth is estimated to be around $267 billion. He recently donated another $20 million to Build a Better California, which is an organization that advocated against California\u2019s proposed billionaire tax, according to a recent filing<\/a>.<\/p>\n

\"SergeySergey Brin, co-founder of Google, at a dinner at the White House in Washington D.C. on September, 2025. Bloomberg via Getty Images<\/p>\n

\"TheGoogle headquarters in New York (pictured). (Christopher Sadowski) Christopher Sadowski<\/p>\n

Prop 40<\/a>, known as California\u2019s billionaire tax, would impose a one-time 5% tax on the net worth of around 200 billionaires that live in the state.<\/p>\n

The funding from the proposed tax would be expected to go to California\u2019s healthcare programs.<\/p>\n

Governor Gavin Newsom has come out saying he\u2019s against the tax and instead in favor of a \u201cnational billionaires\u2019 tax<\/a>.\u201d<\/p>\n

\u201cToday, the office worker can shoulder a higher tax rate than the heiress,\u201d Newsom said on Substack. \u201cWe should end the \u2018tax-free lifestyle loan,\u2019 the gimmick that lets the ultra-wealthy borrow against their stock portfolios while reporting no taxable income.\u201d<\/p>\n

Prop 40 is on California\u2019s ballot in November. <\/p>\n

But it\u2019s expected to have competition with other initiatives that could render it moot. <\/p>\n

\t\t\t\t\t\t\tSign up for the California Morning Report newsletter\t\t\t\t\t\t<\/p>\n

\n\t\t\t\t\t\t\tCalifornia’s top news, sports and entertainment delivered to your inbox every day.\t\t\t\t\t\t<\/p>\n

\t\t\t\t\t\tThanks for signing up!\n\t\t\t\t<\/p>\n

One of the competing measures that made it to the ballot would \u201crequire audits of programs funded by new state special taxes\u201d, the California Secretary of State announced in June.<\/p>\n

It was the first to qualify of the multiple ballot proposals backed by Building A Better California.<\/p>\n

This comes as Trump\u2019s budget cuts are expected to take shape next year. The state\u2019s Medicaid program alone is expected to lose up to\u00a0$30 billion<\/a>\u00a0in federal funding.<\/p>\n

Several others are also looking to avoid the tax. Meta founder Mark Zuckerberg reportedly bought a\u00a0$170 million mansion<\/a>\u00a0near Miami this year. Venture capitalist Peter Thiel, former Uber CEO Travis Kalanick and Google co-founder Larry Page have also left the state.<\/p>\n

Others like Jensen Huang, Nvidia\u2019s co-founder, have said they\u2019re \u201cperfectly fine<\/a>\u201d paying the billionaire tax. <\/p>\n","protected":false},"excerpt":{"rendered":"Google co-founder Sergey Brin, the world\u2019s fourth-richest man, has now spent more than $100 million to fight the…\n","protected":false},"author":2,"featured_media":429493,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[9329,7,9,8,14624,4182,36511,1694,3586,1710],"class_list":["post-429492","post","type-post","status-publish","format-standard","has-post-thumbnail","category-california","tag-billionaires","tag-california","tag-california-headlines","tag-california-news","tag-google","tag-metro","tag-sergey-brin","tag-taxes","tag-us-news","tag-voting"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/429492","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/comments?post=429492"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/429492\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media\/429493"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media?parent=429492"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/categories?post=429492"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/tags?post=429492"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}