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Sergey Brin Donates $102 Million Against California Wealth Tax

By Drooid · Sep 30, 2026, 12:17 AM UTC · How we work

Summary

Story summary

Sergey Brin donated $102 million to oppose California Proposition 40 wealth tax.
Prop 40 would impose a one-time 5% tax on assets over $1 billion, potentially raising $100 billion.
Brin’s gift funds Building a Better California, which has booked over $50 million in ad time.
Opponents have purchased nearly $100 million of ads.
Gov. Gavin Newsom opposes Prop 40 and urges a national minimum billionaire tax instead.

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Story summary

Sergey Brin donated $102 million to oppose California Proposition 40 wealth tax.
Prop 40 would impose a one-time 5% tax on assets over $1 billion, potentially raising $100 billion.
Brin’s gift funds Building a Better California, which has booked over $50 million in ad time.
Opponents have purchased nearly $100 million of ads.
Gov. Gavin Newsom opposes Prop 40 and urges a national minimum billionaire tax instead.