Article may be outdated

This article is 49 days old. Some details may have changed since publication.

Times of India·3 min read·medium

Google founder donates $20mn more to organisation advocating against wealth tax

T
TOI TECH DESK
Google founder donates $20mn more to organisation advocating against wealth tax
✦AI Summary

Google co-founder Sergey Brin has donated an additional $20 million to oppose a California ballot measure that would impose a wealth tax on billionaires. His total contributions to the campaign now exceed $100 million, making him the primary financial force against the proposed tax.

Why it matters

This highlights the significant influence of individual billionaire wealth on local political outcomes and the ongoing debate over wealth taxation in the United States.

✦Dive DeeperCreate a free account to unlock

Sergey Brin has now donated more than $100 million to the campaign against California's proposed billionaire wealth tax. According to a newly filed California campaign finance report (first shared by Bloomberg), the Google co-founder has recently contributed an additional $20 million to political committee Building a Better California. His total donations now stand at $102 million. This makes him the largest financial backer of the campaign opposing Proposition 40. Proposition 40 is a ballot measure that would impose a one-time 5% tax on the wealth of California billionaires.​The filing shows Brin made the $20 million contribution on July 24. Building a Better California subsequently directed $10 million each to campaigns supporting Propositions 41 and 42, two competing ballot measures that could invalidate Proposition 40.

Continue reading on Headlinne

Create a free account to read the full article.

Read full article →
politicsbusiness
✦

Get smarter about the news

Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.

Create free account

Already have an account? Sign in