Larry Page Moves Assets to Delaware to Dodge California's 5% Wealth Tax

Even the titans who built Silicon Valley aren't staying for the bill. Google co-founder Larry Page is distancing his business ties from California as the state pushes for a massive 5% tax on billionaires. According to Business Insider, Page has already begun reincorporating several of his key business entities in Delaware, signaling a major strategic retreat from the Golden State.

The California Wealth Tax and the Delaware Migration

The catalyst for this move is a proposed tax initiative for the 2026 ballot. The policy aims to impose a 5% tax on individuals with assets exceeding $1 billion. In response, Page's family office, Koop, alongside his influenza research firm Flu Lab and flying car startup One Aero, have all been moved to the corporate-friendly legal environment of Delaware.

It's not just the companies moving. Reports suggest Larry Page himself is no longer a resident of the state. He's joined a growing chorus of tech elites, including David Sacks and Palmer Luckey, who've vocally opposed the ballot initiative, arguing it penalizes success and drives innovation away.

Key Entities Reincorporated