Sergey Brin has donated $20 million to a new political drive aimed at solving California’s housing crisis, spurring other billionaires to pitch in. Their efforts may also help ward off a wealth tax. (Jim Wilson/The New York Times/File)
- Unions, a longtime dominant force in California politics, face a fresh challenge from Silicon Valley billionaires.
- California's tech leaders are pouring tens of millions of dollars into the 2026 state elections.
- They hope to influence AI legislation and convince voters to back San Jose Mayor Matt Mahan for governor.
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Big Tech is opening up its treasure chest in a bid to reshape California’s political landscape and wrestle control from unions, Politico reported Wednesday.
“Silicon Valley donors are unleashing tens of millions of dollars to reshape the power dynamics in this resolutely Democratic state, with strategists and others close to them promising a tsunami of in-state spending the likes of which California has never seen,” wrote Politico’s Jeremy B. White and Christine Mui.
“They are marshaling unprecedented sums to win ballot measure fights, place allies in the state Legislature and ensure Gov. Gavin Newsom, a longtime ally, is succeeded by another tech-friendly governor.”
Silicon Valley Goes Big on Mahan for Governor
The expectation is that San Jose Mayor Matt Mahan, a centrist Democrat and recent entry into the gubernatorial campaign, will receive millions in support through a combination of direct contributions and political action committees.
“The whole chess board has been thrown up in the air,” Chris Larsen, a crypto executive and San Francisco political benefactor, told Politico. “Businesses are powerful in other places, but not in California. In California, the unions control Sacramento.”
Larsen has put $5 million into a committee focused on legislative races.
Illustrative of union power: On Wednesday, California’s AFL-CIO leaders, representing 2.3 million nationwide members, said that Newsom needed to focus on AI’s harms to win their support for president.
Google Co-Founder Makes $20 Million Contribution
Another tech whale with the money and power to influence voters and lawmakers is Google co-founder Sergey Brin. According to Forbes, Brin is the third-richest person in the world at an estimated $255.6 billion.
He contributed $20 million to the ballot measure committee Building a Better California, which aims to solve the state’s housing crisis via two initiatives. The committee reports $35 million in contributions.
However, the prospect of the so-called billionaire’s wealth tax on the ballot has the attention of Silicon Valley executives. Brin, in fact, has taken “steps to leave the state to avoid a possible billionaire tax,” The New York Times reported.
But that potential tax is small potatoes compared to the potential impact the state Legislature and the next governor could have on the future of artificial intelligence in California.
Get ready, voters, for the greatest onslaught of political advertising in California history ahead of the June 2 primary and Nov. 5 presidential election.
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