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Google co-founder Sergey Brin has donated another $20 million to Build a Better California, an organization advocating against<\/a> California\u2019s proposed billionaire tax, per a new filing<\/a>. That means that the world\u2019s fourth richest man<\/a>, whose net worth hovers around $267 billion, has now spent more than $100 million to avoid an estimated $13.3 billion tax payment.<\/p>\n California\u2019s Prop 40<\/a>, known as the billionaire tax, would impose a one-time 5% tax on the net worth of around 200 billionaires that live in the state. The windfall from this proposed tax would mostly go toward funding California\u2019s healthcare programs. The state\u2019s Medicaid program alone could lose up to $30 billion<\/a> in federal funding once Trump\u2019s budget cuts take effect next year.<\/p>\n Brin isn\u2019t the only tech mogul seeking ways to avoid such a tax. It\u2019s no coincidence that Meta founder Mark Zuckerberg reportedly bought a $170 million mansion<\/a> near Miami this year. Former Uber CEO Travis Kalanick, venture capitalist Peter Thiel, and Brin\u2019s fellow Google co-founder Larry Page also left the state.<\/p>\n Prop 40 has also generated dissent from Governor Gavin Newsom (D-CA), who is concerned about the economic impact of these billionaires and their businesses fleeing California. Instead, Newsom has called for a \u201cnational billionaires\u2019 tax<\/a>.\u201d<\/p>\n \u201cToday, the office worker can shoulder a higher tax rate than the heiress,\u201d Newsom noted in a blog post. \u201cWe should end the \u2018tax-free lifestyle loan,\u2019 the gimmick that lets the ultra-wealthy borrow against their stock portfolios while reporting no taxable income.\u201d<\/p>\n Californians will vote on Prop 40 in November. The organization that Brin is funding has proposed opposing ballot measures which, if passed, could effectively block Prop 40 by limiting the introduction of new taxes.<\/p>\n Meanwhile, Nvidia co-founder and unlikely working class hero Jensen Huang says he\u2019s \u201cperfectly fine<\/a>\u201d to pay the tax. <\/p>\n \u201cI have not even thought about it once,\u201d Huang, who would owe around $8 billion in taxes, said in a January interview<\/a> with Bloomberg. \u201cWe chose to live in Silicon Valley, and whatever taxes they would like to apply, so be it. I\u2019m perfectly fine with it.\u201d<\/p>\n<\/div>\n When you purchase through links in our articles, we may earn a small commission<\/a>. This doesn\u2019t affect our editorial independence.<\/em><\/p>\n