importantSYS.SOURCE: TechCrunch• 2026-08-10T21:20:04Z

Sergey Brin's $100 Million Effort Against California's Billionaire Tax

#billionaire tax #california #tech policy

Sergey Brin has allocated $100 million to oppose California's proposed billionaire tax, which would impose a 5% net worth levy on 200 state residents to fund healthcare programs. The tax faces opposition from tech elites and Governor Newsom, who advocates for a national wealth tax instead.

California's Prop 40 would impose a one-time 5% tax on the net worth of the state's billionaires.

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