San Francisco anti-Measure D campaign sign on a foggy day
Google co-founder Sergey Brin has injected $500,000 into the effort to defeat San Francisco Measure D, a ballot initiative that would impose a new tax on companies with highly compensated executives. The donation was revealed in a political contribution filing, marking a significant financial commitment from Brin against the proposed tax in the tech hub.
Measure D, set to appear on the June 2 ballot, aims to address wealth inequality by taxing executive pay that exceeds 100 times the median compensation of their employees. Proponents argue it’s a necessary step to ensure corporations contribute fairly, while opponents, including Brin, warn of potential negative impacts on businesses, such as relocation and a chilling effect on startups.
This latest contribution follows Brin’s substantial financial backing earlier this year, where he donated $57 million to a group opposing California’s broader wealth tax on billionaires. His move also aligns with a trend of wealthy residents relocating out of California to avoid potential tax increases.
The proposed Measure D would adjust executive pay tax rates for businesses starting in 2027, potentially increasing gross receipts taxes and payroll expenses based on the executive-to-employee pay ratio. The city estimates this measure could generate between $250 million and $300 million in annual tax revenue.
San Francisco Mayor Daniel Lurie has voiced opposition to Measure D, expressing concerns that it could drive major employers away and deter new businesses from establishing themselves in the city. The measure has garnered support from various union groups and prominent progressive politicians, including Senator Bernie Sanders and Representative Nancy Pelosi, who believe it is crucial for corporations to
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