Sergey Brin reportedly confronted Newsom about leaving CA because of the wealth tax
‘The Big Money Show’ discusses California’s $267M hospice scam as Gov. Gavin Newsom defends the state’s anti-crime record.
A special holiday gathering north of San Francisco has reportedly turned into a financial nightmare for Gov. Gavin Newsom from California.
Back in December, Newsom and Google co-founder Sergey Brin attended the same “treehouse party” hosted by crypto investor Chris Larsen. It was then, according to a Bloomberg report, that Brin broke the news that he would leave the state because of the proposed wealth tax.
According to the report, it was a heated, private dispute so surprising that Newsom reportedly complained of “permanent chills” that he attributed to the discussion for months afterward.
Brin allegedly specifically cited the Billionaires Tax Act, a one-time 5% income tax on people with more than $1 billion in net worth, which took a hit on his nearly $289 billion fortune.
CALIFORNIANS ESCAPE HIGH COSTS – AND MANY COME OUT AHEAD FINANCIALLY, SURVEY FINDS.
Just this week, the Service Employees International Union-United Healthcare Workers West (SEIU-UHW) said it has collected more than 1.55 million signatures, according to a press release, nearly doubling the 875,000 signature requirement, to put a one-time tax on billions of dollars on the California ballot in November.
California Gov. Gavin Newsom reportedly felt sick for months after Google co-founder Sergey Brin told him at a holiday party that he was leaving the Golden State because of the millionaire’s tax. (Getty Images)
If the measure is approved by voters, anyone who was a California resident on Jan. 1, 2026, will owe taxes, according to the proposal.
Brin successfully shielded his wealth from the proposed tax overhaul by purchasing properties in Nevada and Florida. He has also donated at least $45 million to a group called “Building A Better California” to fight the plan, and the amount he has spent to kill the tax has reached $58 million this year.
Corcoran Group agent Julian Johnston speaks exclusively to Fox News Digital about the new wave of California billionaires moving to South Florida because of the proposed wealth tax.
“I fled socialism with my family in 1979 and I know the destructive, oppressive society that created in the Soviet Union. I don’t want California to end up in the same place,” Brin told the New York Times this week about the outlet’s story that discussed his move.
Newsom has publicly opposed the billionaire tax, warning that the measure would hurt the economy and drive away investment. Since January, it is estimated that more than $1 trillion in capital has left California.
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California gubernatorial candidate Steve Hilton joins ‘Mornings with Maria’ to discuss his frontrunner in the race, weigh in on Eric Swalwell’s sudden exit, and outline his strategy for dealing with crime, high taxes and the state’s economic crisis.
“This is my fear,” Newsom said earlier in an interview with Politico. “That’s all I warned about. It happens.”
“The evidence is there. The impacts are very real – not just the big economic impacts in terms of profits, but to begin with, indirect impacts … people are questioning long-term commitments, medium-term commitments,” he continued. “That’s not what we need right now, at a time of so much uncertainty. Quite the contrary.”
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