Billionaire vs Billionaire Tax | US News

Sergey Brin is pouring $90 million into ads to block California’s Proposition 40 — a billionaire tax targeting those worth over $1 billion with a one-time 5% levy. Despite being worth $275 billion himself, Brin’s campaign, backed by his group Building a Better California, highlights that even Governor Newsom and major unions oppose the tax — and that Brin moved out of state to avoid it. Supporters, like healthcare workers unions, can’t match his spending and are relying on social media and texts. Meanwhile, Newsom’s office tried to kill the measure, arguing it harms competitiveness and pushing for federal solutions. Another group is also spending $4 million against the tax — revealing a brutal clash of wealth and grassroots power in California’s biggest political battle yet. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/d55eaa93ad392ba6