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.
24 Articles
24 Articles
What Jensen Huang, and Larry Page's reactions to the California wealth tax reveal
Nvidia's Jensen Huang and Google's Larry Page had different responses to California's proposed billionaire's tax.Patrick T. Fallon / AFP via Getty Images, EMMANUEL DUNAND/AFP/GettyImagesA proposed wealth tax in California evoked split responses from the state's billionaires.Google's Larry Page moved businesses out of California, while Nvidia's Jensen Huang is "perfectly fine" with the tax.Responses can reveal how the wealthy balance financial ri…
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 …
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