Google co-founder and billionaire Sergey Brin has increased his contributions to the fight against the proposed wealth tax in California to $102 million. Bloomberg reports, UNN writes.
Details
According to financial disclosures, Brin recently donated another $20 million to Building a Better California. The organization opposes the proposed tax on billionaires and also supports housing and business measures.
This concerns Proposition 40, which provides for a one-time tax of 5% on the wealth of California billionaires. The issue is planned to be put to a statewide vote in November.
The fight over the tax
Building a Better California is financing two legislative initiatives that could repeal the tax if voters support them. Meanwhile, the organization advocating for the introduction of the tax has so far raised slightly more than $30 million.
Brin has become one of the tax's leading financial opponents and has recruited other technology business figures to the campaign. At the same time, his political spending in California has increased significantly.
According to Bloomberg, Brin's wealth is estimated at approximately $282 billion, making him the fourth-richest person in the world. He previously also purchased a $42 million estate on the shores of Lake Tahoe in Nevada and listed that state as his place of residence in government records.
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