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BackGoogle founder who spent $100 million to stop billionaire tax, says he can't vote
Google founder who spent $100 million to stop billionaire tax, says he can't vote
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연합뉴스1 hour agoPolitics2 min readSouth KoreaView original

Google founder who spent $100 million to stop billionaire tax, says he can't vote

Sergey BrinBillionaire taxNevada

Quick Look

  • Google co-founder Sergey Brin donated more than $100 million to oppose California's billionaire tax referendum, but has moved his address to Nevada and will not be able to participate in the vote, Forbes reported.
  • At the same time, California's rich people continued to move out of state, including Larry Page's move to Florida, and the total assets of California's billionaires fell to second place behind Texas.

AI-generated summary

Why It Matters

California is pursuing Proposition 40 to introduce a billionaire tax, and wealthy people who oppose it are avoiding voting by changing their addresses.

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I already moved my address to Nevada... California Billionaire Tax Vote Unavailable

Rich people, including big tech founders, are leaving California... Jensen Huang 'remains'

(San Francisco = Yonhap News) Correspondent Kwon Young-jeon = Google co-founder Sergey Brin, who spent more than $100 million (approximately 130 billion won) to block the so-called 'billionaire tax' in California, has revealed that he cannot participate in the referendum.

It was confirmed that Brin changed his voter registration from California to Nevada in December of last year, the U.S. business magazine Forbes obtained Nevada public records and reported on the 17th (local time).

Accordingly, Breen will not be able to vote against Proposition 40, which introduces a billionaire tax, to be held along with the midterm elections on the 3rd of next month.

Breen purchased a mansion worth $42 million (approximately 60 billion won) near Lake Tahoe, Nevada, and his representative also acknowledged that Breen is currently a resident of Nevada.

He donated more than $102 million (140 billion won) to the movement to block the initiative through the 'Build a Better California Pack', a super PAC (special political action committee) he founded.

The reason for changing residence at the end of last year is interpreted to be because the billionaire tax being promoted in California stipulates that a one-time tax be granted to billionaires residing in California as of January 1 of this year.

As Brin, whose assets are estimated at $263 billion (approximately 350 trillion won), moved to Nevada, casino heir Miriam Adelson ($31.2 billion) lost her position as the state's richest person.

Larry Page (worth $286 billion), who co-founded Google with Brin, also left California and moved to Florida between December of last year and January of this year, becoming the second wealthiest Floridian after Amazon founder Jeff Bezos (worth $374 billion).

With the departure of the two people who were ranked first and second among California's richest people, the position of California's richest person was taken over by Mark Zuckerberg, CEO of Meta (CEO, assets of $253 billion) and Jensen Huang, CEO of Nvidia (asset of $188 billion).

Among them, CEO Hwang is the only centibillionaire who has announced that he will remain in California regardless of whether the billionaire tax is introduced.

CEO Zuckerberg purchased a $170 million mansion in Miami, Florida, in March, but did not respond to a request for comment about his registered residence.

The ‘exodus of California’s tech industry billionaires is changing the landscape of the wealthy in many states.

Elon Musk, CEO of Space

Former eBay CEO Meg Whitman, who once ran for California governor, eBay founder Pierre Omidia, and former Intuit CEO Brad Smith are now the wealthiest people in New Mexico, Hawaii, and West Virginia, respectively.

California was still ranked as the state with the most billionaires in the United States, with 255 billionaires, but their combined assets were $1.81 trillion, slightly lower than Texas' $1.82 trillion (approximately 2,420 trillion won), falling to second place.

What to Watch

AI outlook — possibilities, not facts

  • California's Billionaire Tax Proposition 40 is likely to be defeated due to a lack of opposition votes due to wealthy people leaving the state.

    Possible · Within weeks

Open Questions

  • What will be the final voting result for Billionaire Tax Proposition 40?
  • Is it possible that California's wealth tax policy will spread to other states in the future?

Related Topics

Sergey Brin
Peoplelarry pageJensen Huangmark zuckerberg
Organizationsgooglenvidiametaforbes
PlacesCaliforniaNevadaFloridaTexas
TopicsBillionaire taxNevadaCalifornialarry pageJensen Huangmark zuckerberg
This article was originally published by 연합뉴스.

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