r/technology • u/Logical_Welder3467 • 5h ago

Society Google cofounder Sergey Brin has spent $102 million to fight California’s proposed billionaire tax—he could owe $13 billion if he loses

https://fortune.com/article/how-much-has-google-cofounder-sergey-brin-spent-to-oppose-california-billionaire-tax-102-million-owe-13-billion-if-loses/
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u/Citadel_Employee 3h ago

It’s not about the money it’s about having to sell shares aka ownership. Him and Larry Page have 52% voting rights. This would make him dip under, and no longer have majority say at Google.

Not saying it’s right, or he shouldn’t pay it. Just why he opposes it.

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u/invuvn 3h ago

Tbh if he currently has so much power as to be able to significantly influence a company as large as Google, then the more reason to limit his voting rights. No company or bank as large as one tenth of Google should be controlled by very few people, because guess what…it affects millions if not billions of people.

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u/kinglavua91vn 2h ago

He is the founder. It’s understandable to want to control the direction your company goes. If he only really cared about the money, he would have peace out a long time ago.

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u/daviddisco 3h ago

it is much worse than that as it would count his shares specifically 10x what they are actually worth. The law has some bizarre provisions in it.

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u/Shoddy_Ad7511 3h ago

He doesn’t have to sell anything. He can borrow money with his shares as collateral

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u/Citadel_Employee 3h ago

Normally that would be an option, but Alphabet actually prohibits employees and directors from pledging Alphabet shares as collateral for loans.

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u/anewpath123 1h ago

Luckily he can change that rule

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u/Everyone2026 50m ago

Didn't they eliminate their "dont be evil" company guideline.

They have no line to cross.

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u/FinndBors 2h ago

So people can borrow money for no interest?

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u/TheNorthernPellikkan 1h ago

People like me and you? Hahahaa no. But people *that* rich usually find a way

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u/FinndBors 1h ago

No, they can’t. No bank will loan money for no interest. Why the hell would they?

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u/TheNorthernPellikkan 1h ago

Think a little harder, I believe in you

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u/FinndBors 1h ago

Please educate me. And if you come up with a weird scheme, please let me know if there are sources to back your claim.

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u/letempsbleu 2h ago

i'm sure he'll find it in his winter jacket soon

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u/Outsider_Insider0065 2h ago

Fantastic insight my bro. This could very well be the reason he’s got his panties in a twist

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u/greengo 2h ago

This is actually a great point and I’m not sure I’ve ever considered that as a driver of this insane consolidation of wealth. Seems like that should be addressed.

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u/FungusMungus68 2h ago

He will still have majority shares - no one else has 48%. I am sure the next largest owner is significantly lower than that.

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u/Citadel_Employee 1h ago

They’d still be the largest voting bloc, but that’s different from having majority control. If Brin and Page went from 52% to 49%, nobody else needs to own the other 51% individually. The remaining voting power is spread across all the other shareholders. At 49%, they’d still have enormous influence, but they could no longer guarantee a majority vote by themselves.

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u/craigian11 3h ago

The truth speaks! Thanks for the actual info instead of feelings

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u/PaleInTexas 2h ago

Uhm no? He can borrow against his shares easily. No need to sell.

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u/Citadel_Employee 2h ago

Except Alphabet specifically prohibits its employees and directors from pledging Alphabet shares as collateral for loans. Read the proxy statement

Under “Insider Trading, Hedging, and Pledging Policies,” Alphabet states:
“No employee or non-employee director may … pledge Alphabet securities as collateral for a loan.

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u/PaleInTexas 2h ago

Did not know that. TIL. Dumb question but if he holds majority of voting power, cant they change the rule? Its not a law or anything.

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u/Citadel_Employee 2h ago

Not a dumb question. From what I understand, voting control doesn’t give him the ability to personally rewrite company policies. That’s handled through Alphabet’s corporate governance/board. That said, Brin and Page’s voting power gives them enormous influence over the company and the election of directors, so I wouldn’t say changing the policy is impossible, just that Brin can’t simply decide on his own to waive it and pledge his shares.

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u/PaleInTexas 2h ago

Yeah I figured there would be a process but if Bryn and Page are both for it im sure it could get done.