Google co-founder Larry Page has officially decided to move his business operations out of California to avoid the state's proposed wealth tax.
The co-founder has severed numerous ties with California and disposed of assets that could have exposed him to the state's proposed new wealth tax, with this action to be completed by the end of 2025.
Page's family office, Koop, relocated from California in late December and registered in Delaware, with the relevant filings submitted to authorities in both jurisdictions. Page also moved several other entities to Delaware, including Flu Lab LLC, an organization funding influenza response research with its principal office address in Nevada, and another entity named One Aero, which funds his flying car project and has its principal office address in Florida.
Furthermore, a filing was submitted to relevant authorities to move Dynatomics LLC from California to Delaware, with a new principal office address in Keller, Texas. Page founded Dynatomics in 2023; the company focuses on applying artificial intelligence to aircraft manufacturing. A source close to Page stated that the team, led by Chris Anderson, continues to operate from California.
Last month, reports indicated that Page had informed people he was considering a move to Florida, citing a proposed ballot measure in California that would tax the state's wealthiest residents. If the proposal passes, any California resident with assets exceeding $1 billion would be subject to a 5% tax on their assets.
Under California law, residency is determined by the nature of an individual's connections to the state, considering factors such as time spent residing there and maintaining substantial business ties. If the ballot proposal passes this November, the measure would take effect retroactively for residents living in California from January 1, 2026.
In addition to his family office and financing vehicles, Page relocated the registration of one of his limited liability companies from California to Delaware, registering a new address in Florida; this company was reportedly used for purchasing islands in Puerto Rico and the Virgin Islands.
Another company under his name, previously used to purchase an island in Fiji, has also been moved from California to Delaware.
Page's wife, scientist Lucinda Southworth, founded an ocean conservation charity named Oceankind. Documents show the organization moved from California to Delaware in December.
Delaware has become a popular choice for corporate registration due to its favorable tax policies, high degree of privacy protection, and a court system specifically dedicated to handling corporate disputes. The state does not require the disclosure of directors' names and addresses upon registration for Limited Liability Companies (LLCs), providing an additional layer of privacy protection.
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