Sergey Brin Gives $16 Million to Fight California's 5% Wealth Tax
Updated
Updated · Business Insider · Jul 5
Sergey Brin Gives $16 Million to Fight California's 5% Wealth Tax
3 articles · Updated · Business Insider · Jul 5
Summary
$16 million from Sergey Brin on May 15 added to the biggest funding stream against California’s November ballot measure for a one-time 5% tax on residents and trusts holding more than $1 billion in assets.
Brin has now given $82 million to Building a Better California, making the Google cofounder the largest backer of the opposition after earlier moving assets out of the state before a key January deadline.
More than $120 million has flowed from tech billionaires and millionaires into committees seeking to defeat or complicate the measure, far outpacing the roughly $31 million raised by primary supporter SEIU-UHW.
Other major donors include John Doerr at $10 million, Michael Moritz at $7.5 million, Patrick Collison at $7 million and Chris Larsen through multiple groups, underscoring broad Silicon Valley resistance as the tax heads to voters.