Sergey Brin may be asked to pay $13 billion wealth tax: Google co-founder spends $102 million to avoid paying it

Google co-founder Sergey Brin has donated $102 million to oppose California's billionaire wealth tax, making him the largest individual contributor. 

Google co-founder Sergey Brin has spent $102 million so far to oppose California’s proposed billionaire wealth tax. According to Fortune, campaign filings show that he is the biggest individual contributor opposing the proposal.

His donations went to Building a Better California, a political funding and advocacy group. It opposes the tax and supports business policies, affordable housing and infrastructure. Total funding against the proposal has crossed $187 million. Supporters have raised about $32 million.

Proposition 40 will appear on the ballot in November. It proposes a one-time 5% tax on California’s 200 billionaires. Around 90% of the money would support the state’s healthcare programme. The remaining 10% would fund education, food assistance and administration.

Brin’s wealth is nearly $260 billion. He could therefore face a tax bill of about $13 billion.

The debate reflects California’s sharp gap between rich and poor residents. Its economy is worth $4 trillion, roughly matching the United Kingdom’s economy. Yet, 18% of its residents live below the poverty line. This is the country’s highest share, partly because living costs are high.

Former Google chief Eric Schmidt and PayPal co-founder Peter Thiel have also funded opposition groups. Brin linked his concerns to his family’s escape from the Soviet Union in 1979. He said he had feared California could face similar conditions.

Governor Gavin Newsom also opposes the measure. He argues that losing wealthy taxpayers could reduce the money available for public services. These include education, childcare, policing and firefighting.

Meanwhile, some billionaires have moved business interests outside California. State records now list Brin as a Nevada resident. He reportedly bought a $51 million home near Miami Beach in March.

Google co-founder Larry Page moved several assets outside the state. His family office, Koop, was incorporated in Delaware in December 2025. Oceankind, founded by his wife Lucy Southworth, was incorporated there around the same time.

Financial impact on billionaires

However, the financial impact of billionaire departures remains unclear. Six billionaires expected to leave could have contributed about $27 billion under the proposal. The measure is expected to raise $100 billion over five years.

A May research paper offered another perspective. California’s billionaires paid $4.1 billion in income tax last year, according to Fortune. That represented about 0.2% of their combined $2 trillion wealth.

Even universal departures would take about 25 years to offset the projected tax collection. If one-quarter is left, the lost income tax would take a century to match it, Fortune added.

Researchers have described the proposed tax as small compared with billionaires’ wealth gains. They called it large compared with their existing tax payments. The debate continues until November.

About the Author

Sounak Mukhopadhyay covers trending news, sports and entertainment for LiveMint. His reporting focuses on fast-moving stories, box office performance, digital culture and major cricket developments. He combines real-time updates with clear context for everyday readers. <br><br> Sounak brings newsroom experience across breaking news, explainers and long-form features. He has a strong emphasis on accuracy, verification and responsible storytelling. His work tracks audience behaviour, celebrity influence and the business of sport and cinema. He helps readers understand why a story matters beyond the headline. <br><br> Sounak has contributed to widely read digital publications. He continues to build a body of journalism shaped by consistency, speed and editorial clarity. He is particularly interested in the intersection of media, popular culture and public conversation in contemporary India. <br><br> At LiveMint, he writes daily coverage as well as analytical pieces that interpret numbers, trends and cultural moments in accessible language. His approach prioritises factual depth, balanced framing and reader trust. The reporting aligns with modern newsroom standards of transparency and credibility. <br><br> Outside daily reporting, he explores storytelling across formats including podcasts, filmmaking and narrative non-fiction. Through his journalism, Sounak aims to document the rhythms of modern entertainment and sports while maintaining rigorous editorial integrity. <br><br> Sounak continues to develop audience-focused journalism that connects speed with substance in a rapidly-changing information environment. His work seeks clarity, trust and lasting public value in every story he reports.

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