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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Larry Page’s Net Worth Tops $300 Billion For First Time Amid Alphabet Earnings Rally

Larry Page’s Net Worth Tops $300 Billion For First Time Amid Alphabet Earnings Rally

Larry Page’s net worth swelled on Thursday, surpassing $300 billion for the first time as Alphabet’s stock rose after reporting a surge in cloud revenue through the Google parent’s latest quarter. Fo...

1 Mai 3min

LIV Golf Loses Saudi Arabia Funding—Effectively Ending PGA Rival

LIV Golf Loses Saudi Arabia Funding—Effectively Ending PGA Rival

LIV Golf, the competitor to the PGA Tour bankrolled by Saudi Arabia’s Public Investment Fund, is losing its funding from the Gulf state, according to The Wall Street Journal. This follows weeks of spe...

1 Mai 3min

United Arab Emirates Leaves OPEC In Favor Of ‘National Interest’

United Arab Emirates Leaves OPEC In Favor Of ‘National Interest’

The United Arab Emirates has announced it will no longer be a member of the Organization of the Petroleum Exporting Countries, OPEC, starting May 1 after reflecting on its "long-term strategic and eco...

28 Apr 3min

Soldier Charged After Using Classified Intel On Maduro Raid To Win $400,000 On Polymarket

Soldier Charged After Using Classified Intel On Maduro Raid To Win $400,000 On Polymarket

A U.S. special forces soldier who participated in the raid to capture Venezuelan President Nicolas Maduro has been charged with using classified information about the operation to win more than $400,0...

24 Apr 3min

Kalshi Bans And Fines Three Politicians For Placing Bets On Their Own Races

Kalshi Bans And Fines Three Politicians For Placing Bets On Their Own Races

Kalshi caught and suspended three political candidates who bet on the outcomes of their own elections, the prediction market company said in a statement on Wednesday, fining the three politicians and ...

24 Apr 3min

Trump Administration Reclassifies Medical Marijuana As A Less Dangerous Drug

Trump Administration Reclassifies Medical Marijuana As A Less Dangerous Drug

The Trump administration’s acting attorney general Todd Blanche signed an order on Thursday reclassifying FDA-approved and state-licensed medical marijuana as a less dangerous drug, placing it in the ...

23 Apr 3min

Rewind: Uber Invests Over $1 Billion In Rivian In Robotaxi Deal

Rewind: Uber Invests Over $1 Billion In Rivian In Robotaxi Deal

Rivian Automotive’s stock soared by more than 8% in premarket trading on Thursday, after Uber announced it would invest up to $1.25 billion in the electric vehicle maker—whose shares have plummeted in...

22 Apr 3min

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