Google co-founder Larry Page exits California as state considers tax on billionaires
Larry Page is reportedly moving parts of his business assets away from California
In a notable shift, Google co-founder Larry Page is reportedly moving parts of his business assets away from California as efforts intensify to place a proposed billionaire wealth tax on the state’s 2026 ballot.
According to Business Insider, Page has begun reincorporating several of his business entities in Delaware, a move often favored for its business-friendly legal framework.
These entities reportedly include his family office, Koop, influenza research firm Flu Lab, aviation company Dynatomics, and flying car startup One Aero.
The report also claimed that Page himself is no longer based in California, suggesting a broader personal and professional shift away from the state.
The move comes as organisers push for a ballot initiative that would introduce a 5% tax on individuals with assets exceeding $1 billion.
The proposed wealth tax has sparked strong reactions from prominent tech and business figures. Several billionaires have publicly criticised the initiative, arguing that it could drive investment and innovation out of California.
Among those who have spoken out are venture capitalist David Sacks, Oculus founder Palmer Luckey, and Reddit co-founder Alexis Ohanian.
As of January 2026, Forbes Real-Time Billionaires data estimates Page’s net worth at approximately $257.8 billion, placing him among the wealthiest individuals in the world.