Overview
- New filings reported by Business Insider show Larry Page moved his family office Koop and multiple entities to Delaware, with additional shifts to Florida and a Texas address for certain operations.
- The proposal would assess a one‑time 5% charge on billionaires who were California residents on January 1, 2026, with payments spread over five years and organizers estimating about $100 billion in revenue.
- Roughly 870,000 valid signatures are needed to qualify the measure for the November 2026 ballot, and Governor Gavin Newsom has publicly opposed the plan.
- Nvidia CEO Jensen Huang told Bloomberg TV he has not considered leaving, citing Silicon Valley’s talent pool and saying potential taxes would not change his decision.
- Critics including lawyer Alex Spiro, San Jose Mayor Matt Mahan and investor Vinod Khosla warn of capital flight, as other wealthy figures have moved operations or residency to states such as Florida and Texas, with Delaware favored for corporate privacy.