CALIFORNIA — Google co-founder Sergey Brin has put more than $100 million behind efforts to defeat California’s proposed wealth tax, bringing his total contributions to $102 million, according to Bloomberg.
Brin recently gave another $20 million to Building a Better California, a group opposing the tax while also backing housing and business measures, according to financial disclosures.
The money is aimed at stopping Proposition 40, a proposal that would impose a one-time 5% tax on the wealth of California billionaires.
California voters are expected to decide the measure in a statewide vote in November.
Building a Better California is also funding two legislative initiatives that could repeal the tax if voters approve them. The group is now a major financial force in the campaign against the proposal.
The organization supporting the wealth tax has raised slightly more than $30 million, according to the information provided.
Brin has emerged as one of the leading financial opponents of the proposed tax and has brought other technology business figures into the campaign.
His political spending in California has also risen sharply as the battle over the measure takes shape.
Bloomberg estimates Brin’s fortune at about $282 billion, making him the fourth-richest person in the world.
Brin previously bought a $42 million estate on the shores of Lake Tahoe in Nevada and listed Nevada as his place of residence in government records.
His large contribution to the California campaign comes as supporters and opponents prepare for a statewide fight over how billionaires should be taxed.
