Google co-founder rips California billionaire tax: 'I fled socialism'

Google co‑founder Sergey Brin criticized a proposed California “billionaire” wealth tax — a one‑time 5% levy on net worth over $1 billion — and has relocated out of the state ahead of the tax’s retroactive cutoff. Brin reportedly moved to the Nevada side of Lake Tahoe, shifted or terminated 15 California LLCs late last year, and has put $57 million into a nonprofit effort, Building a Better California, to oppose the measure. The proposal could impact where high‑net‑worth individuals and related business entities domicile assets, with potential implications for state tax revenue, corporate operations and local investment. The article notes Alphabet stock (GOOGL) trading at $350.34, up 1.72%, underscoring immediate market attention to founder moves and tax policy risk.