00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Google co-founder Sergey Brin donated $500,000 through his non-profit Compass,
00:08for, to oppose a San Francisco ballot measure that would raise taxes on large companies
00:13with highly paid executives, according to Bloomberg. The union-backed proposal would
00:18impose an eight-fold increase to a gross receipts tax on companies doing business in San Francisco,
00:24where the highest paid executive earns 100 times or more than the median employee.
00:29The city controller estimates the measure could generate $250 million to $300 million in additional
00:36revenue. Brin has spent more than $60 million in California state politics this year and has
00:42helped rally other tech billionaires. Ultra-wealthy donors have collectively poured more than $270
00:48million into state politics this election cycle. For all things money, visit Benzinga.com.
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