Sergey Brin-Backed California Measures Have Signatures to Reach Ballot, Backers Say
Two ballot initiatives funded in part by the Google co-founder that take aim at portions of a proposed wealth tax are on track to qualify
Two California ballot initiatives funded in part by Google co-founder Sergey Brin are on track to qualify for the November ballot, according to their backers, setting up a possible clash with a proposed billionaire wealth tax.
The countermeasures are underwritten by a political organization called Building a Better California, which has received $57 million from Brin as well as $36 million from other California billionaires and business leaders.
The battling ballot initiatives represent a fight between some of California’s wealthiest residents who oppose the first-of-its-kind tax proposal and leaders of a powerful healthcare union seeking more tax income to offset looming cuts to Medicaid.
One of the Building a Better California-backed initiatives would bar new taxes on personal property, including retirement accounts, intellectual property and financial assets, excluding real estate. The measure would also bar retroactive taxes on those assets.
The campaign said that the measure collected 1.4 million signatures, which “far surpassed” the needed number, and that it started submitting signatures to county election officials Tuesday.
The other initiative would require more audits of new taxes and contains a provision about how tax revenue can be spent that directly conflicts with the wealth tax. The campaign said it collected about 1.5 million signatures and would start submitting them Wednesday.
That provision could override the wealth tax; if California voters approve competing ballot measures on the same subject, the one with more “yes” votes takes effect.
The initiatives take aim at portions of the wealth tax, which would impose a one-time, 5% tax on many assets of California billionaires. The wealth tax would apply to billionaires who were residents of California as of Jan. 1, 2026, and would apply to a broad category of assets, including stocks, bonds, business interests and intellectual property.
The healthcare union sponsoring the billionaire tax has collected more than 1.5 million signatures and expects the measure to qualify.
Representatives for both Brin-backed campaigns said the measures are designed to apply to other ballot initiatives and legislative efforts, too.
Brin didn’t respond to a request for comment.
The initiatives needed about 875,000 valid signatures to make the ballot. If elections officials certify that the measures have cleared that hurdle, the campaigns have until late June to decide whether the measures will appear on the November ballot.
Both Building a Better California-backed campaigns worked on tight timelines to collect the needed signatures. In addition to paying petition circulators in public places, the campaigns mailed petitions directly to voters, along with instructions on how to fill them out, envelopes to return them and text messages to remind them to do so.
A third measure with funding from Building a Better California is still collecting signatures, but is now aiming for the 2028 ballot, a campaign spokesman said.