Google Billionaire Sergey Brin Compares California Wealth Tax To Soviet Union Socialism

Google Billionaire Sergey Brin Compares California Wealth Tax To Soviet Union Socialism

Billionaire Google co-founder and ex-California resident Sergey Brin has said he’s adamantly opposed to a proposed one-time, 5% tax on the wealth of California residents (and has spent $57 million to fight it) because he fears it will lead the state down a similar socialist path as that of the former Soviet Union, which his family fled when he was 6 years old. Brin, who has moved from a backer of liberal causes to a supporter of Republican President Donald Trump, told the New York Times in a rare statement: “I fled socialism with my family in 1979 and know the devastating, oppressive society it created in the Soviet Union. I don’t want California to end up in the same place.” The proposed tax would apply to California residents with assets worth at least $1.1 billion and has pushed a number of bold-faced billionaires, including Brin, to leave the state. Learn more about your ad choices. Visit megaphone.fm/adchoices

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What We Know About Billionaire Peter Thiel’s Secret 'Dialog’ Society—Including Who’s Involved

What We Know About Billionaire Peter Thiel’s Secret 'Dialog’ Society—Including Who’s Involved

A leak of private information purportedly related to an ultra-secret society called “Dialog” founded by PayPal billionaire Peter Thiel has revealed the inner workings of an elite group to which hundre...

19 Kesä 3min

What We Know About Potential $300 Billion For Iran In Peace Deal

What We Know About Potential $300 Billion For Iran In Peace Deal

Iran could have access to up to $300 billion in reconstruction funds if it adheres to a peace agreement it recently struck with the U.S., according to Vice President JD Vance and multiple reports, tho...

18 Kesä 3min

Fox Will Buy Roku For $22 Billion

Fox Will Buy Roku For $22 Billion

Fox Corporation on Monday announced it reached an agreement to buy the streaming service Roku for $22 billion, expanding Fox’s streaming portfolio in a transaction the companies said would create the ...

17 Kesä 3min

Elon Musk Becomes The World's First Trillionaire Ever After SpaceX IPO

Elon Musk Becomes The World's First Trillionaire Ever After SpaceX IPO

Elon Musk just became the first trillionaire in world history. SpaceX’s stock began trading on the Nasdaq Friday at $150 per share, implying a nearly $2 trillion market cap for the company. Forbes est...

12 Kesä 3min

Larry Ellison’s Net Worth Plunges $10 Billion—Falls Behind Bezos To Fifth-Richest

Larry Ellison’s Net Worth Plunges $10 Billion—Falls Behind Bezos To Fifth-Richest

Larry Ellison’s fortune declined by more than $10 billion on Tuesday, dropping him behind Jeff Bezos to the No. 5 spot among the wealthiest as Oracle shares stumbled amid another broad decline for tec...

11 Kesä 3min

Inflation Hit Highest Rate In 3 Years In May

Inflation Hit Highest Rate In 3 Years In May

Inflation rose to its highest annual rate in three years in May, as surging oil costs once again fueled broader price increases amid a persistent conflict in the Middle East, according to federal data...

10 Kesä 3min

OpenAI Has Filed Paperwork To Go Public

OpenAI Has Filed Paperwork To Go Public

OpenAI has confidentially filed an S-1 form for an initial public offering, the company said in a brief statement on Monday, about one week after artificial intelligence rival Anthropic did the same a...

9 Kesä 3min

Elon Musk Boosts Unsubstantiated Claims About LA Mayor Election As Spencer Pratt Drops To Third

Elon Musk Boosts Unsubstantiated Claims About LA Mayor Election As Spencer Pratt Drops To Third

Elon Musk early on Monday boosted unsubstantiated claims questioning the results of the primary elections in California, focusing specifically on the Los Angeles Mayoral primary, as the progressive De...

8 Kesä 4min

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