Larry Page cuts California business ties ahead of proposed 'billionaire's tax'

Larry Page relocated many California-based business holdings to Delaware and Texas in late 2025, reportedly before a proposed one-time five percent "billionaire's tax". The proposal would apply to residents with net worth above $1 billion and is scheduled for a public vote in November, with retroactive effect from Jan. 1, 2026 if passed.

Larry Page has been reported to move a number of his California-based business holdings to other states. The transfers reportedly occurred in late 2025 and include addresses in Delaware and Texas. These steps took place as California faces a proposed one-time five percent tax on residents with net worth above $1 billion. If the measure goes to a vote and passes in November, it would be retroactive to January 1, 2026. Known details: - Several entities associated with Page, including his family office Koop, Flu Lab LLC, and One Aero, are reported to now list Delaware addresses. - Page's wife, Lucinda Southworth, and her charity Oceankind are reported to have converted their registrations out of California to Delaware. - Dynatomics LLC is reported to list a principal address in Keller, Texas, while its team will continue work in California. - The proposal, advanced by SEIU-United Healthcare Workers West, would impose a one-time five percent tax on residents with net worth above $1 billion and is scheduled for a public vote in November; it would be retroactive to Jan. 1, 2026 if passed. Summary: Reporting indicates Page moved significant business addresses out of California in late 2025. The proposed one-time five percent tax is set for a public vote in November and would take effect retroactively from January 1, 2026 if it passes.