Google co-founder Sergey Brin has donated $100 million to fight California's proposed billionaire tax (Prop 40), which would impose a one-time 5% tax on the net worth of around 200 billionaires in the state. Brin, worth ~$267 billion, is avoiding an estimated $13.3 billion tax payment, joining other tech moguls like Zuckerberg, Page, and Thiel who have also left or moved assets out of California.
Background
California's Prop 40 proposes a one-time 5% tax on billionaires' net worth to fund healthcare programs, as the state faces potential loss of $30 billion in federal Medicaid funding due to Trump administration budget cuts.
- Source
- TechCrunch
- Published
- Aug 11, 2026 at 05:20 AM
- Score
- 6.0 / 10