Story perspectives

Sergey Brin Tops $100M Opposing California Proposition 40

8/12/2026

Center

Brin Donates

Google co-founder Sergey Brin donated $20 million to Build a Better California, raising his total opposition spending on Proposition 40 to over $100 million.
Governor Gavin Newsom opposes Proposition 40, arguing it would shrink the tax base and cut funding for education, childcare, firefighting and police.
Proposition 40 would levy a one-time 5 % tax on about 200 California billionaires’ net worth.
NBER reports California billionaires paid $4.1 billion income tax, about 0.2 % of $2 trillion net worth.

Left

Brin Blocks Tax

Google co-founder Sergey Brin donated $20 million to Building a Better California, raising his total opposition spending on Proposition 40 to more than $100 million.
Critics argue Brin’s $100 million campaign seeks to block a wealth tax that would fund health care for millions, despite billionaires paying low effective rates.
Building a Better California describes itself as nonpartisan, promoting affordable housing and innovation.
Props 41 and 42, funded by the group, would undermine Proposition 40.

Blindspot

Building a Better California is financing Propositions 41 and 42, which would require audits of new state taxes and bar taxes on retirement holdings and personal savings, potentially nullifying Proposition 40.
Within this story's sources, this angle appears mainly in Left-leaning coverage and receives less attention in Center-leaning coverage.

History

Historical Context

In June 1978 California voters approved Proposition 13, capping property taxes at 1 % of the 1976 assessed value and requiring a two-thirds legislative vote for future hikes; the measure cut local revenue by about 60 % and launched Howard Jarvis’s anti-tax campaign with Governor Jerry Brown. Decades later, billionaire Sergey Brin spent $100 million to oppose Proposition 40, reviving the same wealth-tax fears.

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Brin Donates

Google co-founder Sergey Brin donated $20 million to Build a Better California, raising his total opposition spending on Proposition 40 to over $100 million.
Governor Gavin Newsom opposes Proposition 40, arguing it would shrink the tax base and cut funding for education, childcare, firefighting and police.
Proposition 40 would levy a one-time 5 % tax on about 200 California billionaires’ net worth.
NBER reports California billionaires paid $4.1 billion income tax, about 0.2 % of $2 trillion net worth.

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