Google Co-Founders Shift Assets Amid California’s Proposed Wealth Tax
In a significant move reflecting concerns over California’s proposed wealth tax, Google co-founders Larry Page and Sergey Brin are reportedly reducing their business and personal ties to the state. This development comes as California considers a ballot measure that would impose a one-time 5% tax on residents with assets exceeding $1 billion.
Larry Page’s Strategic Relocations
Larry Page, with an estimated net worth of $276 billion, has initiated several strategic changes to his business holdings:
– Family Office Transition: Page’s family office, Koop LLC, was converted from a California-based entity to a Delaware incorporation in late December 2025. ([breitbart.com](https://www.breitbart.com/politics/2026/01/07/google-cofounder-larry-page-relocates-business-interests-out-of-california-before-proposed-wealth-tax-deadline/?utm_source=openai))
– Business Entity Reincorporations: Other ventures associated with Page, including Flu Lab LLC (focused on influenza research) and One Aero (a flying car startup), have also shifted their registrations from California to Delaware. ([techcrunch.com](https://techcrunch.com/2026/01/07/larry-page-loosens-business-ties-to-ca-amid-states-proposed-wealth-tax-report/?utm_source=openai))
– Real Estate Investments: In December 2025, a trust linked to Page purchased a $71.9 million mansion in Miami, Florida, signaling a potential shift in his residential base. ([techcrunch.com](https://techcrunch.com/2026/01/11/google-co-founders-may-be-pulling-out-of-california/?utm_source=openai))
Sergey Brin’s Asset Management Adjustments
Sergey Brin, co-founder of Google, has similarly restructured his asset management:
– LLC Conversions: In December 2025, 15 limited liability companies overseeing Brin’s investments were either terminated or converted into Nevada entities. These include LLCs managing assets such as his superyacht and interests in a private terminal at San Jose International Airport. ([techcrunch.com](https://techcrunch.com/2026/01/11/google-co-founders-may-be-pulling-out-of-california/?utm_source=openai))
Context of the Proposed Wealth Tax
The proposed wealth tax in California aims to levy a one-time 5% tax on residents with assets exceeding $1 billion. If approved in the November 2026 ballot, the tax would apply retroactively to individuals residing in California as of January 1, 2026. For Page, this could translate to a tax liability exceeding $13 billion. ([fortune.com](https://fortune.com/2026/01/07/did-larry-page-leave-california-billionaire-tax-jensen-huang/?utm_source=openai))
Broader Implications and Trends
The actions of Page and Brin reflect a broader trend among high-net-worth individuals seeking to mitigate potential tax liabilities:
– Migration to Tax-Friendly States: Florida, with its favorable tax policies, has become an attractive destination for billionaires. In 2025, the state recorded 19 property sales over $50 million, surpassing both New York and California. ([axios.com](https://www.axios.com/local/miami/2026/01/08/california-billionaires-miami-wealth-tax-real-estate?utm_source=openai))
– Business Reincorporations: Delaware’s business-friendly environment has long been a preferred choice for corporations and high-net-worth individuals seeking favorable legal and tax frameworks.
Conclusion
The strategic decisions by Larry Page and Sergey Brin to relocate business entities and invest in real estate outside California underscore the potential impact of the state’s proposed wealth tax. These moves highlight the broader considerations of high-net-worth individuals in response to changing tax landscapes and the ongoing debate over wealth taxation in the United States.
