Eric Schmidt is reportedly at odds with Google cofounder Sergey Brin over how a $100 million campaign against California’s billionaire tax is spent

Eric Schmidt has grown frustrated with the anti-tax coalition Building a Better California over how his contributions are being spent, according to Fortune. The dispute pits the former Google CEO against Google co-founder Sergey Brin, who largely leads the effort, over the direction of a campaign that has spent more than $100 million opposing California's Proposition 40.

The New York Post first reported Sunday that Schmidt's displeasure stems from his donations being directed toward ballot measures beyond Prop 40 — including Proposition 45, an environmental policy initiative — rather than exclusively targeting the wealth tax. An advisor to Schmidt told Fortune that the former CEO was not "irate" about the outcome, and that his "only current involvement in politics is his contributions to defeating the billionaires tax." The advisor characterized the rift as stemming from funds being spread across related but separate measures without Schmidt's preferred focus.

Schmidt has contributed over $3 million to Building a Better California, while Brin — who helped establish the organization — has supplied over $100 million. Other major contributors include venture capitalist John Doerr at $7.5 million, Ripple executive chair Chris Larsen at $10 million, and Stripe CEO Patrick Collison at $7 million, per Fortune.

The coalition is fighting Proposition 40, a one-time 5% wealth tax on California residents whose net worth exceeded $1 billion as of January 1, 2026. California's Legislative Analyst's Office estimates the measure would affect a few hundred people and could generate tens of billions of dollars. The proposition is backed by SEIU United Healthcare Workers West and has drawn support from Democratic figures including Bernie Sanders and Ro Khanna.

The coalition's political effectiveness has also fed Schmidt's frustration, per the Post. California Democrats endorsed Proposition 40 — narrowly clearing the 61.7% threshold — and simultaneously opposed Propositions 41 and 42, two counter-measures backed by Schmidt and Brin through Building a Better California. Prop 41 would require state audits of programs funded by new special taxes, while Prop 42 would outlaw retroactive taxation — directly undermining Prop 40. Both measures were shot down by the Democratic Party, though they still go before voters in November.

Schmidt's personal stake in the outcome is significant. Bloomberg estimates his net worth at $58.1 billion, placing him squarely among those who would be subject to Prop 40. He did not respond to Fortune's request for comment. Other prominent billionaires have also publicly opposed the measure — Mark Cuban recently engaged in a public dispute with Congressman Khanna over the tax, and Anduril Industries co-founder Palmer Luckey feuded with Khanna on X over the proposal.

With all three propositions — 40, 41, and 42 — heading to California voters in November, the internal tension within the anti-tax coalition adds uncertainty to a campaign that has already spent nine figures without securing a decisive political win.