A political group funded by Google co‑founder Sergey Brin and other
billionaires, Building a Better California, has raised about $318m since its
formation earlier this year, including a $21m donation disclosed Saturday. Most
of the funds are being deployed to oppose Proposition 40, which would impose a
one‑time 5% wealth tax on California billionaires; the group expects to reach
roughly $350m in fundraising by election day. The large spending has intensified
one of the costliest U.S. political fights this cycle, split California
Democrats and is being used to run heavy TV and digital ad campaigns as polls
show the race close with under a month to go.
