Google Co-Founders Sergey Brin & Larry Page Moving Assets Out of California Ahead of 5% Billionaire Tax

- California is home to 199 billionaires, and many have begun to exit before the tax takes effect in November. - 5% of Larry Page's wealth would exceed $ 12 billion, and he is unwilling to give that up in taxes. - Delaware, Nevada, Florida & Texas have become the new wealth destinations.

Adepu Bindu

13 Jan 2026 — 3 min read

Google Co-Founders Sergey Brin & Larry Page Moving Assets Out of California Ahead of 5% Billionaire Tax

Not an overnight packing-and-leaving as many may assume, but a slow distancing from California, indeed. The two men who started Google, Sergey Brin and Larry Page, are pulling their money and businesses out of California. The reason is quite obvious: the "Billionaire tax." The "Golden State" has been home to a wealth of billionaires, and now it is seeking 5% of each billionaire's net worth. According to Visual Capitalist (Aug 2025), there are about 199 billionaires in California. The tax is set to get on the ballot in November 2026. So, how much of the wealth is moved? And why is Larry Page shying away from paying a fraction of his fortune in taxes? For all that, learn more?

What Sergey Brin and Larry Page Are Moving Out of California?

It's quite common for rich people not to own things directly. They use LLCs (Limited Liability Companies) to manage: Investments, property, yachts, private airports, research projects, and new startups. Now here's what Sergey Brin and Larry Page are doing.

Sergey Brin

In December, 15 LLCs linked to Brin were shut down or moved to Nevada. These LLCs controlled one of his superyachts and his stake in a private terminal at San Jose International Airport.

Larry Page

He has 45 LLCs linked to Page that have either become inactive or moved out of California. Larry especially moved lots of his wealth to Delaware, Nevada, Florida, and Texas.

How Larry Page Is Moving His Companies and Assets Out of California?

As of 2026, Larry Page’s estimated net worth is $258 billion. 5% of that would exceed $12 billion. And that's a huge amount. Here's what he has moved so far:

Company/Asset	What it does	Old base	New legal base/address	Why it matters
Koop (family office)	Manages Page’s personal wealth	California	Delaware	Shows Page is shifting control of his money to a business-friendly state
Flu Lab LLC	Funds influenza research	California	Registered in Delaware; main office in Nevada	Moves the financial structure away from California taxes
One Aero	Flying-car development	California	Registered in Delaware; main office in Florida	Signals long-term plans outside California
Dynatomics LLC	AI-based aircraft manufacturing startup	California	Registered in Delaware; address in Texas	Legal base moved, even though work still happens in California
Miami mansion (via trust)	Personal residence	None (new purchase)	Florida	Strengthens the claim of residency outside California

Why Moving Businesses to Delaware, Nevada, Florida & Texas?

The states Delaware, Nevada, Florida, and Texas are among the top states with the ultra-rich. Unlike California, these states have lower or no state income taxes, business-friendly laws, and flexible financial rules. Therefore, Larry Page is smart for saving billions in taxes.

What Does the Billionaires’ Moving Out Mean to California?

Reports suggest that several of the richest people are already moving their wealth out. If this continues and many more leave the state, it could shrink California’s tax base. Although it’s a one-time payment, 5% would amount to millions and billions for the rich.

This tax is set to appear on the ballot in November 2026 and would apply to all billionaires who live in the state as of January 1. Regardless of whether it gets approved or not, the impact of it has already begun.

Final Thoughts...

Are they moving out completely? No, both still own homes in California. Some of Page’s companies still operate in California and hire people there. Their technology teams and innovation work remain based in California. The move is more like a strategic distancing rather than a brutal exit.