Senator Bernie Sanders is taking aim at Google co-founder Sergey Brin over his financial campaign to block California’s proposed billionaire tax. Taking to X, Sanders highlighted that Brin’s personal wealth has ballooned by $140 billion since Donald Trump’s election.
Under the proposed ballot measure, known as Proposition 40, California would levy a one-time 5% wealth tax on the state’s 200 billionaires to help fund healthcare services. For Brin—whose total net worth stands at $260 billion according to Forbes—that bill would come out to roughly $14 billion. Sanders pointed out that even after paying that amount, Brin would still hold a comfortable $270 billion net worth. He criticized the tech mogul for pouring over $100 million into political action groups to defeat the measure.
A $100 million political pushback
Brin has taken a leading role in fighting the proposal. He recently poured an extra $20 million into Building a Better California, a political advocacy group opposing the tax and championing pro-business policies. That addition brings his total contribution to the group to $102 million.
Explaining his stance, Brin told the New York Times that the proposal reminds him of the Soviet socialism his family fled back in 1979 (via Benzinga). He warned that imposing direct wealth levies risks turning California into a similarly oppressive economic environment.
Wealth flight and political division in California
The clash unfolds against a broader backdrop of wealthy residents leaving California. Brin himself has reportedly dissolved or moved 15 California-registered LLCs, relocating several to Nevada. Venture capitalist Chamath Palihapitiya recently noted that over $700 billion in billionaire wealth has departed the state earlier this year.
Interestingly, California Governor Gavin Newsom also opposes Proposition 40. While California boasts a massive $4 trillion economy, high living costs leave 18% of residents below the poverty line—the highest rate in the nation. Newsom warns that a local wealth tax will simply drive wealthy residents away, shrinking the revenue pool for social services. Instead, Newsom wants a federal minimum tax on individuals with assets above $100 million, arguing a nationwide rule prevents billionaires from dodging taxes simply by moving across state lines.
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