Sergey Brin is building a political org that will last beyond his $102 million fight against Prop 40

Key Points:

• Sergey Brin has contributed $102 million to Building a Better California, a political organization formed to oppose California's proposed wealth tax (Proposition 40) and influence state policy beyond the immediate ballot fight.
• Building a Better California has spent over $304 million supporting efforts to defeat Proposition 40 and promote Propositions 41 and 42, which are designed to counter the wealth tax by imposing restrictions on new taxes and banning retroactive taxation.
• The wealth tax proposal, backed by progressive leaders and unions, would impose a 5% tax on assets over $1 billion to fund healthcare, education, and food assistance, potentially raising tens of billions of dollars over several years.
• The 2026 election cycle has seen a record $612 million from more than 70 billionaires in California, with nearly half directed at defeating Proposition 40, reflecting significant ultrawealthy opposition to the tax.
• While Brin and some billionaires seek to use their political influence broadly, others like former Google CEO Eric Schmidt prefer to focus solely on defeating the wealth tax, expressing concerns about expanding the organization's political agenda.