Why Is Google’s Larry Page Moving His Businesses From California? World’s Second Richest Person Is Relocating To THIS Place Amid Billionaire Tax

Google’s Larry Page is officially moving his business from California. 

The Google cofounder has been quietly moving his assets out of California, all to stay ahead of a proposed new wealth tax targeting billionaires in the state. He met the end-of-2025 deadline, according to filings Business Insider checked out.

Larry Page Quietly Moves Businesses Out of California

His family office, Koop, switched its incorporation from California to Delaware back in December. The same goes for a few other companies like Flu Lab LLC, which he uses to fund flu research (it now lists its main office in Nevada), and One Aero, his flying car project (that one’s registered in Florida).

He also moved Dynatomics, LLC from California to Delaware and now lists its primary address in Keller, Texas. Page launched Dynatomics in 2023 to use AI in aircraft manufacturing, and Chris Anderson leads the team.

Even with all these filings, folks close to Page say the team is still working out of California.

Wealth Tax Push Drives Larry Page to Move Key Businesses Out of California

Back in December, the New York Times reported that Page had been telling people he was thinking about moving to Florida because of a proposed ballot measure. If it passes, any California resident worth more than $1 billion would face a 5% tax on their assets. 

California figures out residency by looking at where you spend your time, and how deep your business roots go. If the ballot measure passes in November, the tax would kick in retroactively for anyone living in the state as of January 1, 2026.

Someone close to Page says he’s already left California. It’s not clear if he’s gone for good or just for now.

Page is currently the world’s second-richest person, according to the Bloomberg Billionaires Index.

Larry Page Avoids California Wealth Tax

He’s also been moving other companies out of California. An LLC that Business Insider previously linked to his island purchases in Puerto Rico and the Virgin Islands is now registered in Delaware, with a new Florida address. Same deal with the LLC he used to buy an island in Fiji, it’s out of California and into Delaware.

Page’s wife, Lucinda Southworth, started a marine conservation charity called Oceankind. That moved to Delaware in December, too.

A lot of people love Delaware for its privacy, tax advantages, and courts that specialize in corporate disputes. The state doesn’t make LLCs list their owners, which adds another layer of privacy.

That privacy matters to Page. His family office is famously secretive, with CEO Wayne Osborne managing the details.

Cristina Rosado, an attorney who handles a lot of Page and Southworth’s legal work, signed off on several of the filings.

Page also set up three new companies in Florida last year, according to The New York Times. A new “Koop LLC” showed up in Florida filings in January 2025, but it’s not confirmed if that one’s his.

What’s up with the billionaire tax?

As for the billionaire tax, it’s getting plenty of pushback from venture capitalists and politicians. Vinod Khosla called it a plan that would send California’s biggest taxpayers running for the exits and hurt the state in the long run.

He said lawmakers should ban wealth taxes and just equalise income and capital gains taxes nationwide.

Matt Mahan, San Jose’s Democratic mayor, called the tax “a political plan that will sink California’s innovation economy.”

David Sacks, the White House’s AI czar, thinks it’ll backfire. He predicts Miami and Austin will soon outpace New York and San Francisco for finance and tech. He recently announced his venture firm, Craft Ventures, just opened an office in Austin.

And last month, celebrity lawyer Alex Spiro wrote a letter to Governor Gavin Newsom, warning that the billionaire tax would spark an exodus of money and innovation from California. Business Insider reported on that, too.

MUST READ: Renowned American Economist Jeffrey Sachs Warns US Move Against Venezuela A Violation Of International Law: ‘They Kidnapped The President But…’