A coalition supported by Sergey Brin and other wealthy tech investors is taking action against a proposed tax targeting California’s richest residents.
In February, a campaign event in Los Angeles promoted the proposed billionaire tax. Credit: Jae C. Hong/Associated Press
On July 17, 2026, it was announced that the coalition reserved nearly $87 million in advertising time across California to broadcast TV commercials. These ads are expected to mark the beginning of an expensive campaign affecting Silicon Valley and state politics.
Proposition 40, appearing on the November ballot, aims to impose a one-time tax on California residents with a net worth of at least $1 billion. This tax proposal has already led some of the state’s wealthiest individuals to leave or invest more heavily in California’s political landscape.
Instead of directly opposing the tax, the coalition, named Building A Better California, has proposed two tax-related measures on the ballot. These measures include provisions that could nullify the billionaire tax if either one passes.
The coalition’s advertising plans do not specify the exact focus of the ads among the measures presented.
“Our coalition is committed to ensuring that all California voters are informed about policies that impact our state’s future and economy,” said Abby Lunardini, a spokeswoman for the group. “The measures we support provide important and common-sense protections designed to improve state accountability and governance and protect California families from new taxes on their retirement and savings.”
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