Here is a story about a man who spent $100 million to avoid paying $13.3 billion, and we need a moment to let that math sink in. Google co-founder Sergey Brin, the world’s fourth richest person with an estimated net worth of $267 billion, has now donated over $102 million to a California campaign group called Build a Better California, which is fighting Proposition 40 — a ballot measure going before California voters in November that would impose a one-time 5 percent tax on the net worth of the state’s roughly 200 billionaires. The estimated revenue from the tax would be around $100 billion dollars, with most of it earmarked for California’s healthcare programs including Medicaid, which could lose up to $30 billion in federal funding next year due to Trump’s budget cuts. Brin, who has quietly changed his official residence to Nevada specifically to avoid the tax, is far from alone in his resistance. Mark Zuckerberg has reportedly purchased a $170 million mansion near Miami. Larry Page and Travis Kalanick have both left California entirely. Meanwhile, in a striking contrast, Nvidia’s Jensen Huang says he is perfectly comfortable paying his estimated $8 billion bill and has not given it a second thought. California Governor Gavin Newsom is pushing for a national billionaires’ tax as an alternative solution. So we want to know — do you think billionaires should pay a special wealth tax? And is spending $100 million to avoid a $13 billion bill the most Silicon Valley thing you have ever heard? Let us know in the comments, and make sure to like, share, and follow The Bikini Report for your daily headlines!
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You said it
Yes. Let em pay
This is one heck of a AI news chick