Google co-founder Sergey Brin donate millions before California wealth tax vote

Google cofounder Sergey Brin is among many California billionaires donating large sums as the state considers a proposed wealth tax.

Brin, alongside tech leaders, venture investors, and philanthropists, pooled $35 million in January, backing California's affordable housing initiatives.

Brin led with a $20 million donation, with additional significant contributions throughout January from former Google CEO Eric Schmidt and PayPal CEO Max Levchin, who donated $2 million and $1 million, respectively.

The list also features DoorDash CEO Tony Xu, Stripe CEO Patrick Collison, and Kleiner Perkins Chair John Doerr.

Brin's hefty donation aligns with California's upcoming decision on a measure to impose a one-time, 5% tax on the state's billionaires.

This tax, set for 2027, would apply retroactively from January 1 this year.

Billionaires-backed groups aim to avoid the tax by either funding alternative initiatives or channeling contributions into political committees opposing the measure.

Reactions to the potential tax vary. Nvidia CEO Jensen Huang expressed no objections, noting that Silicon Valley's talent merits any tax costs.

Conversely, other leaders have shown resistance. Brin and Google cofounder Larry Page moved an LLC from California to Delaware the previous December.

LinkedIn cofounder Reid Hoffman believes the tax would be detrimental to innovation. White House AI advisor David Sacks warned the tax could resemble an "asset seizure."

According to The New York Times, Palantir chairman Peter Thiel contributed $3 million to the California Business Roundtable in December, a group opposing the tax.