Brin’s donations against California wealth tax top $100 million

Google cofounder Sergey Brin donated another $20 million to a political group opposing California’s proposed billionaire tax, bringing his total giving to the group to $102 million.

Proposition 40, set for the November ballot, would impose a one-time 5% tax on California’s 200 billionaires. The measure would direct most revenue to the state health care program, with the rest going to education, food assistance and administration.

Brin, whose net worth is nearly $270 billion, could owe more than $13 billion under the proposal. The measure is expected to raise $100 billion over five years, while opponents argue it could drive wealthy residents and business entities out of the state.

Read the full story at fortune.com.