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Larry Page Shifts Business Entities Out of California Ahead of Proposed Billionaire Wealth Tax

Filings highlight a push to minimize exposure to a proposed retroactive 5% levy that has not yet qualified for the ballot.

Overview

  • State records show Page’s family office, Koop, converted from California to Delaware in late December alongside moves involving Flu Lab LLC, One Aero, and Dynatomics.
  • The entities now list out-of-state principal addresses, including Nevada for Flu Lab, Florida for One Aero, and Texas for Dynatomics after conversions to Delaware.
  • Filings also document conversions of LLCs tied to island purchases and the Oceankind nonprofit to Delaware, reflecting a broader restructuring of Page-linked assets.
  • An anonymous source told reporters Page has left California, though it remains unclear if the relocation is permanent and some teams reportedly still work from the state.
  • The union-backed initiative would levy a one-time 5% tax on residents with net worths above $1 billion, potentially retroactive to Jan. 1, 2026, and is still in signature gathering as other tech figures adjust footprints, while Nvidia CEO Jensen Huang says he is unfazed and staying.