US EditionGoogle Guys Say Bye to California
Sergey Brin moved 15 limited liability companies from California to Nevada amid fears of a proposed 5% wealth tax targeting billionaires, continuing a trend of billionaire relocations.
- Last month, an entity connected to Sergey Brin moved 15 California limited liability companies overseeing some business interests out of California, reducing his ties to the state.
- Facing a proposed ballot measure, the relocations came amid fears they could be affected by California's proposed ballot measure imposing a one-time 5% net-worth tax on billionaires.
- Seven of the entities were re-registered in Nevada, including those managing a superyacht and a private air terminal at San Jose International Airport, while David Sacks and Peter Thiel opened offices outside California.
- The departures involve a combined net worth of over $500 billion, and Chamath Palihapitiya, venture capitalist, said more than $700 billion left the state in the past month.
- The Journal reported Sergey Brin is discussing a Miami home purchase as Larry Page, Google co-founder, bought two Miami-area homes for a combined $173.4 million.
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After Larry Page, Sergey Brin Reportedly Moves Business Entities Out Of California Amid Proposed Wealth Tax - Alphabet (NASDAQ:GOOG), Alphabet (NASDAQ:GOOGL)
Google co-founder Sergey Brin is reportedly moving companies and assets out of California amid concerns over a proposed wealth tax.
Sergey Brin joins fellow Google co-founder Larry Page in cutting California ties ahead of threatened billionaire tax: report
Sergey Brin is reportedly pulling back from California, joining Google co-founder Larry Page and other billionaires in paring ties to the state before voters decide whether to impose a steep wealth tax.
Larry Page drops $173M on Miami mansions amid California billionaire exodus trend as wealth tax looms
Google co-founder and billionaire Larry Page has solidified his move out of the Golden State, as he reportedly purchased two Miami-area homes for a combined $173.4 million.People familiar with the situation exclusively told the Wall Street Journal that Page paid $101.5 million in December for a waterfront, compound-like property that was the previous home of the late restaurateur Jonathan Lewis. Then, on Jan. 5, he bought a nearby home for $71.9…
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