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International Business Times UK
International Business Times UK
Business
Niloy Chakrabarti

Sergey Brin Is Spending Millions to Stop California's Proposed Billionaire Tax—Here's What's at Stake

Sergey Brin reportedly acquired a $51 million waterfront mansion in Miami and listed Nevada as his official residence. (Credit: X / Mario Nawfal @MarioNawfal)

Google co-founder Sergey Brin has poured $102 million into efforts to defeat California's proposed billionaire tax, which is a measure that could leave him facing an estimated $13 billion bill if voters approve it. With the 3rd November election approaching, Brin is also backing Proposition 42, a separate ballot measure that could prevent California from imposing the tax and restrict future wealth-tax proposals.

Brin's reported move to Nevada, alongside his property purchases outside California, has added another dimension to the debate over whether the proposed levy could accelerate an exodus of the state's richest residents.

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