At a Glance
- Sergey Brin dissolved or moved 15 California LLCs to Nevada last month
- Larry Page shut or relocated 45 LLCs and bought a $71.9 million Miami mansion
- Both still own homes in California, signaling partial-not total-exit
- Why it matters: A proposed 5% retroactive tax on billionaires could cost each founder billions if they remain California residents
Google co-founders Sergey Brin and Larry Page are quietly shifting chunks of their business empires out of California, a move that coincides with a looming ballot measure that would slap a one-time 5% tax on anyone worth more than $1 billion.
The exodus, reported by the New York Times, shows the ultra-wealthy using corporate shells and out-of-state trusts to sidestep a retroactive levy that could apply to anyone who lived in California as of January 1, 2026.
Brin’s Nevada Shuffle
In December alone, 15 limited-liability companies tied to Brin were either terminated or converted into Nevada entities, according to public filings reviewed by the Times.
Those entities control:
- One of Brin’s superyachts
- His stake in a private terminal at San Jose International Airport
The switch strips the companies from California’s regulatory and tax jurisdiction, placing them under Nevada’s more favorable rules.
Page’s Florida Pivot
Page’s migration is even larger:
- 45 LLCs linked to him have gone inactive or relocated outside California
- A trust tied to Page purchased a $71.9 million mansion in Miami this week
The Florida purchase follows a pattern among tech billionaires who view the state as a tax-friendly alternative with no personal income tax.
The Tax Trigger
California’s Attorney General has cleared a ballot initiative for signature gathering that would:
- Impose a one-time 5% tax on residents worth more than $1 billion
- Apply retroactively to anyone domiciled in the state on January 1, 2026
- Raise an estimated $20-25 billion for education, pandemic readiness, and climate programs
If the measure qualifies for the November 2026 ballot and passes, billionaires who remain California residents would face massive bills-potentially billions for Page and Brin, whose fortunes hover around $100 billion each.
Not a Clean Break
Despite the corporate maneuvers, both founders still own homes in California, underscoring the complexity of relocating when personal wealth is tied to:
- Real estate
- Private aircraft
- Yachts
- Venture investments
The Times notes that moving is “not a simple, black-and-white thing for the ultra-rich,” suggesting the pair may be hedging rather than fully fleeing.
Broader Billionaire Backlash
Page and Brin join other high-profile tech figures who have reduced their California footprint:
- Elon Musk moved Tesla headquarters to Texas
- Keith Rabois and David Sacks have publicly cited taxes in their relocations
If enough billionaires follow suit, California could see:
- Lower income-tax revenues
- Reduced philanthropic giving
- Less venture-capital activity concentrated in Silicon Valley
Key Takeaways
- 15 Brin LLCs shifted to Nevada in December
- 45 Page LLCs inactive or out of state
- A $71.9 million Miami mansion signals Page’s deepening Florida ties
- The proposed 5% billionaire tax would apply retroactively to January 1, 2026
- Both founders retain California homes, keeping partial residency-and risk-alive
