TL;DR
Reports say Sergey Brin and Larry Page have moved many investment entities out of California and made at least one major property purchase in Florida. The changes coincide with a proposed one-time 5% wealth tax that would apply retroactively to residents as of Jan. 1 if it reaches the November ballot and passes.
What happened
The New York Times reported in December that Sergey Brin terminated or converted 15 limited liability companies tied to his investments and interests into Nevada entities. Those LLCs reportedly include ones that manage a superyacht and Brin’s stake in a private terminal at San Jose International Airport. Separately, about 45 LLCs linked to Larry Page have become inactive or been moved out of state, and a trust connected to Page purchased a $71.9 million mansion in Miami this week. TechCrunch noted that both founders still own homes in California, and that relocation decisions by ultra-wealthy individuals are often complex rather than binary. Observers interpret the moves as actions that could be aimed at avoiding a proposed ballot measure that would levy a one-time 5% tax on people with more than $1 billion in net worth, which would apply retroactively to those who resided in California on Jan. 1 if it qualifies and passes.
Why it matters
- If wealthy residents change legal residency or move assets out of state, California could see reduced tax revenue from high-net-worth individuals.
- Moves by prominent founders could signal a broader trend of asset and entity migration in response to proposed tax policy.
- The situation highlights tensions between state policy proposals targeting extreme wealth and the practical challenges of enforcing retroactive taxes.
- How this develops may affect political debate over taxation of billionaires and influence whether others adjust residency or corporate structures.
Key facts
- Report based on New York Times reporting, summarized by TechCrunch.
- In December, 15 LLCs tied to Sergey Brin were terminated or converted into Nevada entities.
- Those Brin-linked LLCs reportedly include entities managing a superyacht and an interest in a private terminal at San Jose International Airport.
- About 45 LLCs associated with Larry Page have recently become inactive or been moved out of state.
- A trust linked to Larry Page purchased a $71.9 million mansion in Miami this week.
- Both Brin and Page still own homes in California, according to the reporting.
- The moves coincide with a proposed one-time 5% tax on individuals worth more than $1 billion that could apply retroactively to those who lived in California as of Jan. 1, if it reaches the ballot and passes.
- TechCrunch cautions that relocation for the ultra-rich is complex and not necessarily a simple switch of residence.
What to watch next
- Whether the proposed one-time 5% wealth tax qualifies for the November ballot and, if so, whether it passes.
- not confirmed in the source: whether Brin or Page will formally change their legal tax residency.
- not confirmed in the source: whether other high-net-worth individuals will take similar steps to move entities or residences.
Quick glossary
- Limited Liability Company (LLC): A legal business entity that separates the personal assets of owners from the company's liabilities; often used for holding investments and property.
- Trust: A legal arrangement in which one party holds property for the benefit of another; commonly used for estate planning and asset management.
- Retroactive tax: A tax applied to a period before the law was enacted, potentially affecting actions or residency decisions made earlier.
- Ballot measure: A question or proposal submitted to voters for approval or rejection in an election.
Reader FAQ
Have Sergey Brin and Larry Page officially left California?
Not confirmed in the source. The reporting describes conversions and purchases but notes both still own homes in California.
Why are these moves happening now?
The moves coincide with a proposed one-time 5% tax on individuals worth more than $1 billion; the reporting suggests the changes could be aimed at avoiding that tax.
What is the proposed tax?
It is described as a one-time 5% levy on individuals with net worth over $1 billion that would apply retroactively to people who lived in California on Jan. 1 if it reaches the ballot and passes.
Did Page buy property outside California?
Yes. A trust linked to Larry Page purchased a $71.9 million mansion in Miami, according to the reporting.
IN BRIEF Posted: 2:56 PM PST · January 11, 2026 IMAGE CREDITS: JAMES LEYNSE/CORBIS / GETTY IMAGES Anthony Ha Google co-founders may be leaving California Sergey Brin and Larry Page…
Sources
- Google co-founders may be leaving California
- Google Co-Founders Sergey Brin and Larry Page Reduce …
- Sergey Brin joins fellow Google co-founder Larry Page in …
Related posts
- Interactive California Budget: Year-by-Year Revenue and Expenditure Projections
- Sampling Language Models at Negative Temperature: Experiments with LLaMA
- User asks why Armenian reportedly ‘breaks’ Claude in social media post