Why ex-Google CEO Eric Schmidt is 'unhappy' with his former boss Sergey Brin
Former Google CEO Eric Schmidt is reportedly frustrated with co-founder Sergey Brin over the allocation of political campaign funds. The dispute centers on how money intended to fight a California wealth tax is being used for other political measures.
Why it matters
Illustrates the intersection of billionaire political influence and the complexities of campaign finance management.
Google’s former CEO Eric Schmidt is reportedly unhappy with founder Sergey Brin over how more than $100 million in political contributions is being used in California. The two technology billionaires are backing efforts to defeat Proposition 40, a proposed one-time wealth tax on California residents worth more than $100 million. However, a report says Schmidt has grown frustrated because money raised to fight the tax is also being used against other ballot measures.Why Eric Schmidt is unhappy with Sergey Brin According to a report by the New York Post, Eric Schmidt has become frustrated with the political coalition led in large part by Sergey Brin after California Democrats endorsed Proposition 40.
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