California billionaires pour in $378 million to defeat proposed tax on their wealth

Google co-founder Sergey Brin contributed $102 million to a campaign committee central to the fight over the state's tax policy.

Photo via ABC News (Youtube)

California’s billionaires have successfully fought off Proposition 40, a proposed 5% tax on their wealth, after their allies poured hundreds of millions of dollars into the last election’s campaign. The measure lost 52.4% to 47.5%.

Billionaires bankroll the fight

Google co-founder Sergey Brin contributed $102 million to Buildin…