Google co-founder Sergey Brin has now spent $100 million to fight California’s proposed billionaire tax—he could owe $13 billion if he loses

Google co-founder Sergey Brin has now spent more than nine figures combating California’s proposed wealth tax.

According to a filing from Friday, Brin donated an additional $20 million to Building a Better California, a PAC and political advocacy organization opposing the state’s billionaire tax and supporting other pro-business policies and housing and infrastructure affordability. He has now given a total of $102 million to the group. 

Proposition 40, which will be on the ballot in November, would impose a one-time, 5% tax on California’s 200 billionaires, with 90% of the revenue from the proposed measure going toward the state’s healthcare program and 10% going toward education, food assistance, and administration. Brin, with a net worth of nearly $270 billion, could owe more than $13 billion as a result of the tax. 

California, the most populous state, has become the epicenter of the conversation around the K-shaped economy, or the diverging fortunes of those with wealth and those without it. While the Golden State has a $4 trillion GDP, making its economy about the same size as the United Kingdom’s, it also has 18% of its residents living below the poverty........

© Fortune