Larry Page Reportedly Shifts Business Ties Away From California Amid Proposed Wealth Tax

Larry Page is beginning to move parts of his business footprint out of California as efforts ramp up to place a proposed billionaire wealth tax on the state’s 2026 ballot, according to a report from Business Insider.

The Google co-founder has reportedly started reincorporating several of his business entities in Delaware. These include his family office, Koop; his influenza research organisation, Flu Lab; his aviation-focused company, Dynatomics; and his flying-car startup, One Aero, the report said.

In addition to the corporate changes, Page is no longer believed to reside in California, according to a Business Insider source.

The moves come as California organisers push for a ballot initiative to impose a 5% wealth tax on individuals with assets exceeding $1 billion. Page had previously told associates he was considering leaving the state in response to the proposed tax, the report said.

Several prominent tech figures have publicly criticised the ballot initiative, including David Sacks, Palmer Luckey, and Alexis Ohanian.

If approved by voters, the proposed measure would mark one of the most aggressive wealth taxes in the United States, potentially reshaping how high-net-worth individuals structure their businesses and residency within the state.