Larry Page moves business assets out of California

Google co-founder Larry Page has begun changing the legal jurisdiction of several of his business entities, moving them away from California. According to a report by Business Insider, Page is reincorporating these entities in Delaware. This process of reincorporation—which alters where a company is legally registered—marks a significant shift in how the billionaire structures his personal and professional holdings. The transition directly affects four of Page’s key business entities:

• Koop, his family office, which serves as his private wealth management firm
• Flu Lab, his influenza research company
• Dynatomics, his aviation company
• One Aero, his flying car startup

By moving these entities to Delaware, Page is shifting the legal home of a diverse portfolio that spans private wealth management, influenza research, and aviation.

Alongside the corporate restructuring, Page’s personal ties to the state are also changing. A source told Business Insider that Page himself is reportedly no longer in California. This reported departure follows conversations in which the billionaire reportedly told others that he was looking to leave the state due to the proposed wealth tax. The tax proposal in question is a ballot initiative—a proposed measure to be voted on by the public—that organizers are working to add to the 2026 ballot. If approved by voters, the measure would impose a 5% tax on individuals who hold assets worth $1 billion or more.

The prospect of a 5% tax on billionaires has generated significant pushback from the technology sector. While Page has chosen to quietly relocate his assets and reportedly leave the state, other prominent figures have taken a more public stance. Tech investors and founders, including David Sacks, Palmer Luckey, and Alexis Ohanian, have actively spoken out against the proposed ballot initiative. The public opposition from these figures, combined with Page’s structural exit, underscores the deepening divide between California’s fiscal policy organizers and the technology sector’s wealthiest leaders.

Why it matters

The relocation of high-profile tech founders and their assets highlights the growing tension between California’s tax policies and its wealthiest residents. This movement could signal a broader shift in corporate domicile strategies as ultra-high-net-worth individuals seek jurisdictions with more favorable tax environments.