Google cofounder Larry Page has quietly started moving several of his companies and financial structures out of California. This move appears to be aimed at avoiding a proposed new wealth tax that would target billionaires living in the state. According to official filings reviewed by Business Insider, Page completed these changes before the end-of-2025 deadline.
Who Is Larry Page?
Lawrence Edward Page was born on March 26, 1973. He is an American computer scientist and business leader. He co-founded Google and later its parent company, Alphabet Inc. By early 2026, Page had become the world’s second-richest person, with an estimated fortune of about $258 billion. Most of his wealth comes from the strong rise in Alphabet’s stock, driven by major advances in artificial intelligence.
Larry Page met Sergey Brin while studying at Stanford University. Together, they created the PageRank search algorithm, which became the foundation of Google. The two launched the company in 1998, changing how people search for information online.
Page served as Google’s first chief executive until 2001. He returned as CEO in 2011 and stayed in the role until 2015. When Alphabet Inc. was formed as Google’s parent company, Page became its founding CEO and held the position until December 2019. Although he stepped away from daily management, he kept his seat on the board and continues to hold a controlling stake in the company.
Under Page’s leadership, Google grew far beyond search. The company expanded into major global platforms such as Android, YouTube, and Gmail, helping it become one of the most powerful technology companies in the world.
Why Is Larry Page Moving His Companies?
Page’s family office, called Koop, changed its legal registration from California to Delaware in December. Several of his other businesses followed the same path.
Flu Lab LLC, which he uses to support flu-related research, is no longer registered in California and now lists Nevada as its main office. His flying-car company, One Aero, is now officially registered in Florida.
Another company, Dynatomics LLC, was also moved from California to Delaware. It now lists its main address in Keller, Texas. Page created Dynatomics in 2023 to use artificial intelligence in aircraft manufacturing. The company is led by Chris Anderson.
Even though the paperwork shows these businesses have moved, people close to Page say much of the team is still operating from California.
How Did the Wealth Tax Push This Decision?
In December, The New York Times reported that Page had been telling people he was thinking about moving to Florida. The reason was a proposed ballot measure in California.
If approved, the plan would place a 5% tax on the total assets of any California resident worth more than $1 billion. California decides who is a resident by looking at where a person spends their time and how closely their business interests are tied to the state. If voters approve the tax in November, it would apply retroactively to anyone who lived in California as of January 1, 2026.
A person close to Page said he has already left California. However, it is not known whether this move is permanent or temporary. According to the Bloomberg Billionaires Index, Page is currently the second-richest person in the world.
What Other Companies Has Page Relocated?
Page has been shifting more of his business entities away from California.
An LLC that had been used to buy islands in Puerto Rico and the Virgin Islands is now registered in Delaware and has a Florida address. Another company used to buy an island in Fiji was also moved from California to Delaware.
His wife, Lucinda Southworth, runs a marine conservation charity called Oceankind. That organisation also changed its registration to Delaware in December.
Why Is Delaware So Popular for Billionaires?
Many wealthy people and companies choose Delaware because it offers privacy, tax advantages, and courts that specialise in business disputes. The state does not require LLCs to reveal their owners, which makes it easier to stay out of public view.
Privacy is especially important to Page. His family office, Koop, is known for being extremely secretive. Its CEO, Wayne Osborne, manages most of the internal operations.
Several of the legal filings for these changes were signed by Cristina Rosado, a lawyer who handles much of the legal work for Page and Southworth.
Page also created three new companies in Florida last year, according to The New York Times. A new “Koop LLC” appeared in Florida records in January 2025, though it is not confirmed if it belongs to Page.
Why Is the Billionaire Tax Facing Strong Opposition?
The proposed wealth tax has drawn heavy criticism from business leaders, investors, and politicians.
Venture capitalist Vinod Khosla said the plan would drive California’s richest taxpayers out of the state and hurt the economy in the long run. He argued that lawmakers should ban wealth taxes and instead equalise income and capital-gains taxes nationwide.
San Jose mayor Matt Mahan called the tax “a political plan that will sink California’s innovation economy.”
White House AI adviser David Sacks believes the tax will backfire. He said cities like Miami and Austin will soon become more powerful than New York and San Francisco in finance and technology. He recently announced that his venture firm, Craft Ventures, has opened an office in Austin.
Last month, celebrity lawyer Alex Spiro wrote to California Governor Gavin Newsom, warning that the billionaire tax would cause money and innovation to leave the state in large numbers.
