US EditionAs the Bernie Sanders-Endorsed Billionaire Tax Looms, a Google Co-Founder Is Leaving California
Larry Page moved several business entities to Florida in December to avoid a proposed 5% wealth tax on billionaires worth over $1 billion in California.
- December, Larry Page's filings show he converted several business entities out of California ahead of the Jan. 1, 2026 residency cutoff, as reviewed by Fox News Digital.
- Backed by SEIU/United Healthcare Workers West, the measure would impose a one-time 5% tax on California residents with more than $1 billion, applying to those resident on Jan. 1, 2026, with payment options per the Legislative Analyst's Office.
- Estimates show Larry Page could owe about $7.2 billion based on a $144 billion valuation, or roughly $13 billion on a $270 billion valuation.
- Critics argue tech leaders warn the wealth tax could push billionaires and capital out of California, harming innovation and local services, despite Huang's stance that he won't leave.
- Public filings show Flu Lab LLC and One Aero moved to Delaware or Florida, with Koop LLC converting to Delaware incorporation in late December, gaining privacy advantages.
20 Articles
20 Articles
Google's Larry Page Reportedly Exits California Over Proposed Billionaire Tax, Joining Peter Thiel, But This CEO Hasn't 'Thought About It Even Once' - Alphabet (NASDAQ:GOOG), Alphabet (NASDAQ:GOOGL)
Silicon Valley's elite are dividing into two camps ahead of a proposed “billionaire tax,” with Alphabet Inc.‘s (NASDAQ:GOOG) (NASDAQ:GOOGL) Google co-founder Larry Page fleeing the state just as Nvidia Corp. (NASDAQ:NVDA) CEO Jensen Huang doubles down on his commitment to California. The Midnight Exit Page, currently ranked as the world's second-richest person, completed the migration of his family office and key assets out of California before …
Billionaires make strategic moves out of California ahead of proposed wealth tax
As the clock ticks on California’s billionaires facing a proposed wealth tax, some of America’s top business leaders are making strategic moves to leave the Golden State.Google co-founder Larry Page appears to be distancing himself from California, as public filings reviewed by Fox News Digital from the California Secretary of State’s office show several business entities linked to Page were moved out of the state in December, ahead of the Jan. …
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