Google co-founder Sergey Brin has relocated from California to avoid a proposed wealth tax targeting billionaires, which he compares to the socialism he escaped as a child.
Brin’s Strong Opposition
Sergey Brin, who fled the Soviet Union with his family in 1979, describes the measure as creating a “devastating, oppressive society.” He warns that California risks mirroring the failed system he left behind.
“I fled socialism with my family in 1979 and know the devastating, oppressive society it created in the Soviet Union. I don’t want California to end up in the same place,” Brin stated.
Tax Proposal Details
The initiative imposes a one-time 5% tax on residents with net worth exceeding $1 billion. Covered assets include businesses, securities, art, collectibles, and intellectual property. Exemptions apply to real property, pensions, and certain retirement accounts.
The tax targets Californians who resided in the state at the start of 2026 and applies retroactively. Payments become due in 2027, with options to spread them over five years. Voters may see it on ballots this fall.
Brin’s Relocation and Actions
Sources indicate Brin moved late last year to the Nevada side of Lake Tahoe. He alternates weeks at Google’s California headquarters. In December, an entity linked to him shifted or terminated 15 California limited liability companies, converting several to Nevada entities.
To oppose the tax, Brin collaborates with others, forming non-profit groups. He invested $57 million into Building a Better California over recent months to rally support against the proposal.
Debate Surrounding the Measure
Supporters claim it generates substantial funds for public services. Critics argue it drives away job creators and entrepreneurs from the state.
