Silicon Valley Billionaires Fuel California Political Spending in Governor Race and Tax Debate
California’s 2026 gubernatorial race and a proposed wealth tax are attracting significant financial contributions from tech billionaires, according to recently released campaign finance disclosures. Figures from Google and other major tech companies are increasingly involved in state politics, backing candidates and opposing the proposed tax.
Schmidt and Brin Lead Opposition to Billionaire Tax
Google’s former CEO, Eric Schmidt, has donated $1.04 million to the California Business Roundtable, an independent committee campaigning against the proposed Billionaire Tax Act.1 This tax, supported by unions, aims to fund education, food assistance, and healthcare programs. Google co-founder Sergey Brin has likewise contributed significantly to efforts opposing the tax, donating $20 million to Building a Better California in January.2 Schmidt also donated $2 million to the same committee around the same time.2
Brin Plays Both Sides in Governor’s Race
Sergey Brin is supporting candidates from both major parties in the gubernatorial race. He contributed $39,200 to Republican candidate Steve Hilton, a former Fox News contributor and advisor to former British Prime Minister David Cameron.13 Brin also donated $78,400, the maximum individual contribution, and an additional $1 million to Democrat Matt Mahan.3
Mahan Emerges as Silicon Valley Favorite
Matt Mahan has become a favorite among Silicon Valley donors.1 He has received maximum donations of $78,400 from Reddit’s CEO Steve Huffman, Cruise co-founder Kyle Vogt, Napster co-founder Sean Parker, and Zynga’s founder Mark Pincus.3 Other significant donors to Mahan include DoorDash CEO Tony Xu ($39,200) and LinkedIn co-founder Reid Hoffman ($39,200).3 Mahan has also received support from donors connected to the Trump administration, including Palantir co-founder Joe Lonsdale and Anduril co-founder Matt Grimm.3
Broader Tech Industry Involvement
The increased spending extends beyond Google’s founders. CEOs from DoorDash, Reddit, LinkedIn, and Facebook have also made substantial campaign donations.1 Ripple CEO Chris Larsen and Stripe CEO Patrick Collison have each donated $2 million to Building a Better California, while Palantir co-founder Peter Thiel contributed $3 million to the California Business Roundtable.3
Both Mahan and Hilton publicly oppose the proposed billionaire tax, which is currently gathering signatures to qualify for the November ballot.3
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