Former Google CEO Eric Schmidt is reportedly angered by the strategic direction of a coalition formed to oppose California's proposed billionaire tax, according to a report by The New York Post. Schmidt, who has donated $3 million to the coalition, "Building a Better California," is among a group of wealthy donors and advisers expressing frustration with the organization's expanding political agenda.
Building a Better California, founded by Google co-founder Sergey Brin, has spent over $100 million this year on various state ballot measures. While its initial objective was to defeat a one-time 5% wealth tax on Californians worth over $1 billion (Proposition 40), the coalition has also financed efforts related to environmental policy and other measures. This broadening of focus has led to concerns about mission creep and a potential dilution of effectiveness.
A significant point of contention arose when the state Democratic Party endorsed Proposition 40 and rejected two counter-measures, Propositions 41 and 42, which Building a Better California was supporting. The coalition's efforts to secure neutrality from Democrats on the billionaire tax also failed, with the party narrowly approving the endorsement for Proposition 40.
Schmidt's dissatisfaction reportedly intensified following this outcome. Sources suggest that the coalition's involvement in other propositions, such as Proposition 45, which aims to streamline environmental reviews for development projects, has created internal conflict. Schmidt's wife, Wendy Schmidt, is actively campaigning against Proposition 45, viewing it as a threat to environmental safeguards, while the Building a Better California coalition has contributed to its support.
The coalition has raised $118 million, with Brin contributing $102 million. Significant portions of this funding have been allocated to Propositions 41 and 42, as well as Proposition 45 and Proposition 37. Building a Better California has also reserved substantial advertising time across the state in anticipation of the upcoming November elections, aiming to preemptively secure ad buys before prices increase.
Despite internal disagreements, substantial financial resources continue to be directed towards the various ballot measure campaigns.