Key facts
- Google co-founder Sergey Brin is opposing California's Proposition 40.
- Brin has spent over $100 million to oppose the tax.
- He recently donated an additional $20 million to an opposing organization.
- Proposition 40 is a proposed billionaire tax in California.
- The tax aims to impose a 5% levy on the net worth of billionaires.
- Approximately 200 billionaires in California would be affected by the tax.
Sergey Brin, a co-founder of Google, has intensified his campaign against California's proposed "billionaire tax," identified as Proposition 40. Brin recently contributed an additional $20 million to an organization actively opposing the ballot measure. This latest donation escalates his total financial commitment to the opposition efforts to more than $100 million. The proposed tax, Proposition 40, is designed to levy a 5% tax on the net worth of approximately 200 billionaires residing in California. The measure aims to generate substantial revenue by targeting the state's wealthiest residents.