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Larry Page, cofounder of Google and currently the world’s second-richest individual, has officially shifted several business entities out of California. This strategic move was finalized before a looming year-end deadline, related to a proposed state wealth tax targeting billionaires.
According to Business Insider, Larry Page has restructured his business affiliations by relocating numerous entities from California ahead of a December 2025 cut-off, connected to a suggested wealth tax initiative. This change, confirmed by official documents reviewed by Business Insider, marks a notable reorganization of the billionaire’s business framework. Interestingly, while Google is known for its progressive stance, its founders appear to take a more conservative approach when it concerns their finances.
Page’s family office, Koop, transitioned from being incorporated in California to Delaware in late December, as documented in filings from both states. This restructuring extended beyond just the family office, affecting several other business entities tied to Page’s diverse investments and projects.
Among the entities that were restructured was Flu Lab LLC, a firm through which Page has supported influenza research. This company now lists Nevada as its primary office location. Another entity, One Aero, which has been instrumental in funding Page’s flying car projects, also moved its incorporation to Delaware and now identifies Florida as its main office address.
Further documentation highlighted the conversion of Dynatomics LLC from California to Delaware, now with its principal address situated in Keller, Texas. Page founded Dynatomics in 2023 to explore the application of AI technologies in aircraft manufacturing. An insider with knowledge of Page’s operations indicated that the Dynatomics team, under the leadership of Chris Anderson, remains based in California. Requests for comments from Anderson and Page’s family office representatives went unanswered.
The New York Times previously reported in December that Page had informed associates he was contemplating a move to Florida due to a proposed ballot measure targeting the state’s wealthiest residents. If approved by voters, the measure would impose a five percent tax on assets for any California resident with a net worth exceeding $1 billion.
California law determines residency based on various factors related to an individual’s connections to the state. These factors include the amount of time spent physically present in California and the maintenance of substantial business relationships within the state. Should voters approve the ballot measure in November, its provisions would apply retroactively to anyone classified as a California resident as of January 1, 2026.
A source with knowledge of Page’s situation confirmed that the Google cofounder had already departed California. However, whether Page intends this relocation to be permanent or temporary remains unclear. According to the Bloomberg Billionaires Index, Page holds the position of second-richest person globally.
Privacy considerations hold particular importance for Page, whose family office operates with a level of secrecy that exceeds most comparable organizations. The office operates under the careful management of CEO Wayne Osborne. Cristina Rosado, an attorney who handles numerous assets for both Page and Southworth, executed the signatures on several California filing documents.
Breitbart News previously reported that tech entrepreneurs including Peter Thiel and Palmer Luckey have slammed the proposed wealth tax:
According to the New York Times, conservative venture capitalist Peter Thiel and Google cofounder Larry Page are among those looking into relocating in case the tax becomes law. Rep. Ro Khanna (D-CA), who represents part of Silicon Valley, drew attention to the story on X and echoed President Franklin Roosevelt’s sentiment, saying, “I will miss them very much.” Commenters were quick to point out that Khanna previously opposed taxes on unrealized capital gains.
Khanna’s support for the wealth tax unleashed a flood of negative reactions from the tech community. Palmer Luckey, cofounder of defense tech startup Anduril, warned that the tax would force founders to sell significant portions of their companies to pay for “fraud, waste, and political favors for the organizations pushing this ballot initiative.” He expressed concern that if he and his wealthy peers cannot come up with billions of dollars in cash to pay the tax, the state could seize their homes and garnish their wages.
“One market correction, nationalization event, or prohibition of divestiture (not at all uncommon during wartime) and I am screwed for life,” Luckey posted on X.
Read more at Business Insider here.
Lucas Nolan is a reporter for Breitbart News covering issues of free speech and online censorship.
