TL;DR
According to TechCrunch citing Business Insider, Google co-founder Larry Page has begun moving several business entities out of California amid efforts to put a proposed billionaire wealth tax on the 2026 ballot. The report says Page has reincorporated multiple companies in Delaware and is reportedly no longer living in the state.
What happened
TechCrunch reported on Jan. 7, 2026 that Larry Page has started to loosen formal business ties to California as organizers seek to qualify a proposed wealth tax for the 2026 ballot. Per the report — which cites Business Insider — Page has been reincorporating a number of his entities in Delaware. Named companies include his family office Koop, an influenza research firm called Flu Lab, aviation concern Dynatomics, and flying-car startup One Aero. The article also says Page is reportedly no longer residing in California. The proposed ballot measure under discussion would levy a 5% tax on individuals with assets valued at $1 billion or more. The report notes other prominent critics of the initiative, including David Sacks, Palmer Luckey and Alexis Ohanian.
Why it matters
- If high-net-worth individuals relocate or restructure to avoid a state levy, California could see legal and fiscal implications for revenue forecasts.
- Reincorporation in states like Delaware is a common corporate strategy that can affect governance, taxation and regulatory exposure.
- Public opposition from tech founders suggests the proposal may provoke further political and legal pushback ahead of any vote.
Key facts
- TechCrunch published the report on January 7, 2026, citing Business Insider.
- Larry Page has reportedly begun reincorporating several business entities in Delaware.
- Entities named in the report include Koop (family office), Flu Lab (influenza research company), Dynatomics (aviation company), and One Aero (flying car startup).
- The proposed ballot initiative would impose a 5% tax on people with assets of $1 billion or more.
- The report states Page is reportedly no longer living in California.
- Other tech figures who have spoken out against the proposed measure include David Sacks, Palmer Luckey and Alexis Ohanian.
- Organizers are working to get the proposed wealth tax added to the 2026 ballot, according to the report.
What to watch next
- Whether the proposed wealth-tax measure secures enough signatures to appear on the 2026 ballot — not confirmed in the source.
- Any legal challenges or changes to the initiative’s text following signature-gathering efforts — not confirmed in the source.
- Whether additional high-net-worth individuals follow suit in changing domicile or corporate registrations in response to the proposal — not confirmed in the source.
Quick glossary
- Reincorporation: The process of registering a company under the laws of a different jurisdiction, often to change legal, tax or governance conditions.
- Family office: A private entity set up to manage investments, estate planning and personal affairs for a wealthy individual or family.
- Wealth tax: A levy on the net worth of individuals, usually assessed as a percentage of total assets above a set threshold.
- Ballot initiative: A process that allows citizens to propose legislation or constitutional amendments that voters can approve or reject in a public election.
Reader FAQ
Is Larry Page confirmed to have left California?
The report says he is 'reportedly' no longer in the state; that phrasing indicates the claim comes from the cited report.
Which of Page’s businesses were moved out of California?
The report names Koop, Flu Lab, Dynatomics and One Aero as entities he has begun reincorporating in Delaware.
Has the wealth tax been enacted?
Not confirmed in the source.
Will Page be subject to the proposed 5% tax?
Not confirmed in the source.
IN BRIEF Posted: 3:23 PM PST · January 7, 2026 Dominic-Madori Davis Larry Page loosens business ties to CA amid state’s proposed wealth tax, report Larry Page is starting to…
Sources
- Larry Page loosens business ties to CA amid state’s proposed wealth tax, report
- Page, Ellison shift assets as California weighs wealth tax
- Billionaire Larry Page Moves Businesses Amid California …
- As the Bernie Sanders-Endorsed Billionaire Tax Looms, a …
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