Sergey Brin Opposes California's Proposed Billionaire Tax, Citing Socialism Fears
Google co-founder rips California billionaire tax: 'I fled socialism'
Fox Business
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Sergey Brin, co-founder of Google, criticized California's proposed billionaire tax, comparing it to the socialism he fled from in the Soviet Union. The tax, which would impose a one-time 5% levy on residents with a net worth exceeding $1 billion, has prompted Brin to relocate to Nevada.
- 01Sergey Brin opposes California's proposed billionaire tax, fearing it resembles socialism.
- 02The tax would impose a one-time 5% levy on residents with a net worth over $1 billion.
- 03Brin relocated to Nevada to avoid the tax, which is set to appear on ballots this fall.
- 04The proposed tax applies retroactively to Californians who were residents at the start of 2026.
- 05Brin has invested $57 million in efforts to defeat the tax measure.
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Sergey Brin, the co-founder of Google, has publicly opposed California's proposed billionaire tax, which would impose a one-time 5% tax on residents with a net worth exceeding $1 billion. Brin, who fled the former Soviet Union in 1979, expressed concerns that this tax reflects the oppressive socialism he experienced in his homeland. In response to the impending tax, which is expected to be on the ballot this fall, Brin relocated to the Nevada side of Lake Tahoe, while still maintaining ties to California by visiting Google's headquarters bi-weekly. The proposed tax would apply retroactively to Californians who were residents at the start of 2026 and would be due in 2027, with payment options available over five years. Advocates for the tax argue it would provide significant funding for public services, while critics, including Brin, warn it could drive wealthy individuals and job creators out of the state. In his efforts to oppose the tax, Brin has formed nonprofit organizations and invested $57 million to build support against the measure.
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The proposed billionaire tax could significantly affect wealthy residents and job creators in California, potentially leading to relocations and changes in the state's economic landscape.
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