Sergey Brin and 11 other billionaires and tech elite lined up against California's proposed billionaire tax

Sergey Brin, John Doerr, Peter Thiel, and other California billionaires have donated over $120 million to oppose a proposed 5% wealth tax on residents with assets over $1 billion. The tax, which would be voted on in November, faces opposition from tech elites including Brin, who contributed $82 million, and Doerr, who donated $10 million, while union-backed supporters have raised $31 million.