Brin Tops $100 Million In Campaign Cash To Fight California Wealth Levy

Subheadline: Silicon Valley billionaire adds $20 million to anti-Prop 40 effort as state prepares for a November vote on a one-time one‑twentieth tax aimed at funding health care

Sergey Brin has contributed an additional $20 million to Build a Better California, pushing his personal spending against the proposed state wealth levy past the $100 million mark, campaign finance records show. With a net worth estimated near $267 billion, Brin’s donations are part of a wider effort to block Proposition 40, a ballot measure that would impose a one-time tax equal to one‑twentieth of the net worth of roughly two hundred of the state’s wealthiest residents; supporters say the revenue would largely be devoted to health programs. Backers of the measure estimate the tax could raise more than $13 billion.

Prop 40’s backers argue the money would shore up health care services at a time when California faces potential cuts to federal funding for Medi-Cal. State officials have warned that federal budget changes under the incoming administration could reduce the program’s support by as much as $30 billion next year, leaving gaps that proponents say the levy would help fill.

The group receiving Brin’s latest gift, Build a Better California, is also supporting ballot initiatives designed to make it harder for new taxes to take effect — a parallel strategy that could blunt Prop 40 if voters approve those measures. A spokeswoman for the organization said the campaign is focused on protecting businesses and preserving an environment that supports job creation, arguing the ballot rules they favor will prevent sudden tax shocks to the economy.

Governor Gavin Newsom has expressed reservations about the measure as written, warning that taxing wealth at the state level could prompt wealthy residents and their companies to relocate. He has floated the idea of pursuing a federal approach instead, saying a national solution would avoid creating a patchwork of state rules that encourage migration. In a written post, Newsom criticized the current structure that allows some wealthy taxpayers to report little taxable income while tapping financial markets for cash.

The proposed levy has already affected decisions by high‑net‑worth individuals. Recent reports show several tech founders and investors have changed residency or purchased expensive homes outside California — including a roughly $170 million purchase near Miami attributed to a social media founder — moves critics of the tax cite as evidence of potential fallout. Others, by contrast, have said they would accept the tax; Jensen Huang, chief executive of a leading chipmaker, told reporters earlier this year he hadn’t worried about the proposal and would remain in the state even if the levy applied to him.

An economist who studies state fiscal policy said large, early donations like Brin’s are aimed as much at shaping public perception as at buying ad time. “Throwing nine figures at a ballot campaign sends a signal that opponents will be aggressive,” the analyst said. “But it also raises questions about who gets to influence rules that affect the wider public.”