"Brin has committed $20 million to a new organization called Building a Better California, a political and policy effort aimed squarely at California's worsening housing affordability problems, recent state disclosures show, as first reported by The New York Times. The money is part of a broader $35 million launch package that also includes $15 million from eight other wealthy business leaders, among them former Google CEO Eric Schmidt and venture capitalist Michael Moritz, who each contributed $2 million."
"Roughly a week earlier, another Silicon Valley billionaire made his largest political donation in years, as Peter Thiel donated $3 million to a California business group leading the fight against a proposed billionaire wealth tax. Brin's contribution stands out even in his rapidly expanding philanthropic and political spending, and was described to the Times by people familiar with his giving as his most visible single cash commitment to housing affordability in the state."
Sergey Brin moved his primary residence to a $42 million mansion on the Nevada side of Lake Tahoe while making a major public donation to California housing efforts. He committed $20 million to Building a Better California as part of a $35 million launch package that included $15 million from eight other wealthy business leaders, with Eric Schmidt and Michael Moritz each contributing $2 million. Building a Better California will back statewide ballot measures and legislation aimed at boosting housing construction and streamlining approvals. Brin's gift positions him as a significant funder in California's housing affordability fight. Rising billionaire political spending and a proposed wealth tax are influencing donor activity and possible relocations.
Read at Fortune
Unable to calculate read time
Collection
[
|
...
]