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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.