Google co-founder Sergey Brin has now spent $100 million to fight California’s proposed billionaire tax—he could owe $13 billion if he loses

Google co-founder Sergey Brin has donated $20 million to oppose California's proposed billionaire tax, bringing his total contributions to $102 million. The $100 million spent by Brin could amount to a potential $13 billion tax bill if the measure passes. Prop 40, set to be on the November ballot, would impose a 5% tax on California's 200 billionaires, with funds allocated to healthcare and education.

Brin, who fled socialism in the 1970s, fears the tax could lead to a Soviet-style society. Opponents argue the tax could hurt the state's economy and reduce investments in key services. However, experts question whether billionaires leaving California would significantly impact the tax revenue, as they currently pay a small fraction of the expected $100 billion.