Overview
- Campaign finance filings and ad‑tracking reports released July 21 show Brin has personally given about $82 million to Building A Better California and the group has reserved roughly $86.9 million in TV ad time across the state.
- The Brin‑led coalition placed two competing measures, Propositions 41 and 42, on the same ballot so that if either countermeasure receives more yes votes than Proposition 40 it would prevent the wealth tax from taking effect.
- Reported opposition funding exceeds $120 million from Brin and other tech figures while supporters, led by SEIU‑UHW, have so far reported about $31 million to place Proposition 40 on the ballot.
- Proposition 40 would impose a one‑time 5% tax on California residents with net worths over $1 billion and require that 90% of proceeds be spent on healthcare, a plan the nonpartisan Legislative Analyst’s Office says could raise tens of billions up front but risk future income‑tax revenue if wealthy residents relocate.
- The fight has grown public and personal, drawing criticism from Senator Bernie Sanders and a social‑media rebuttal from analyst Patrick Hedger, and it sets the stage for an expensive, high‑profile advertising battle through September, October and the November vote.