Tech Billionaires Pour Unprecedented Sums into California Races

In an unprecedented display of wealth and influence, tech billionaires are pouring hundreds of millions of dollars into California's primary elections, seeking to shape the state's future and safeguard their industry's dominance. The June primary election is on track to become the most expensive in California history, with tech moguls using a scorched-earth approach to fund candidates and ballot measures across the state. At the forefront of this spending spree is Google co-founder Sergey Brin, who has spent a staggering $82m since January to fight a billionaire tax that will appear on the November ballot.

Other tech heavyweights are also making their presence felt. Democratic gubernatorial candidate Matt Mahan has received more donations than any other candidate, with top executives at Google, Amazon, Snap, LinkedIn, Reddit, and Palantir lining up to back his campaign. Crypto mogul Chris Larsen has funded three Super Pacs with $26m, using the money to sway campaigns across California, including a $1m donation to support a primary candidate for state insurance commissioner.

The tentacles of Silicon Valley's influence extend far beyond state-level races, with tech-backed Pacs now sponsoring voter guides to help shape local tax measures in city primaries. Google and Meta have collectively funded a Super Pac with $10m to back assembly and senate candidates in local district races across the state. As the spending continues to escalate, experts warn that this is just the tip of the iceberg, with the ultimate goal being to gain both political and regulatory leverage that will perpetuate the tech industry's dominance in business.