Google co-founder Sergey Brin has added another $20 million to Build a Better California, bringing his total spending to more than $100 million in the debate over California's proposed billionaire tax.
The measure, known as Prop 40, would apply a one-time 5% levy to the net worth of roughly 200 billionaires in the state. Supporters say the plan could generate major funding for healthcare programs, including California's Medicaid system, at a time when state budgets are under pressure.
The proposal has also become a focal point for Silicon Valley's wealth and mobility. Several high-profile tech figures, including Mark Zuckerberg, Larry Page, and others, have reportedly shifted their residence or investment focus outside California as the discussion has intensified.
Governor Gavin Newsom has pushed back with a call for a national approach, arguing that the tax system should better reflect the scale of modern wealth. On the other side, some tech leaders say they are comfortable with the idea of contributing more through state taxes.
California voters are expected to decide the issue in November. The outcome could shape how states balance innovation, public funding, and the future role of extreme wealth in regional economies.
