Tech billionaires are spending unprecedented sums in California races. Experts say it's the tip of the iceberg

Source: The Guardian

Tech billionaires have shelled out hundreds of millions of dollars ahead of the 2 June primary election in California, in an unrivaled attempt to influence who gets to run the state that Silicon Valley calls home.

The industry has used a cover-all-bases approach, funding candidates and ballot measures big and small, contributing to what looks to be the most expensive primary season in California history. The goal, experts say, is to gain both political and regulatory leverage that will perpetuate dominance in business.

“This money is flowing in the direction of politicians that can be influential in defining the regulatory agenda for the next five years,” said Francesco Trebbi, a public policy professor at the University of California in Berkeley. “Reinforcing the cycle of economic power produces political power, and political power further establishes economic power. So, this cycle is ongoing.”

Combing through campaign finance filings with California’s secretary of state, the Guardian found:

Google co-founder Sergey Brin has spent $66m since January, more than any other donor, to fight a billionaire tax that’s up for a vote on the November ballot.

Democratic gubernatorial candidate Matt Mahan has received more donations than any other candidate, including from top executives at Google, Amazon, Snap, LinkedIn, Reddit and Palantir.

Crypto mogul Chris Larsen has funded three Super Pacs with $26m to sway campaigns across California, including giving $1m to back a primary candidate for state insurance commissioner.

Google and Meta have collectively funded a Super Pac with $10m to back assembly and senate candidates in local district races across the state.

Silicon Valley money is flowing toward city primaries as well as state-level ones, with tech-backed Pacs sponsoring voter guides suggesting how to vote on local tax measures.


Read more: https://www.theguardian.com/us-news/2026/jun/01/tech-billionaires-california-elections