Google Co-Founders Shift Assets Amid California Billionaire Tax Threat
Sergey Brin and Larry Page are quietly moving dozens of business entities out of California, signaling a strategic retreat as a proposed “wealth tax” targets the ultra-rich.
In a flurry of filings just before Christmas, entities linked to Sergey Brin terminated or relocated 15 California LLCs, with seven shifting to Nevada. This move mirrors actions taken by Larry Page, who filed documents last month to inactivate or move more than 45 California LLCs associated with him. While they built their empire in a Menlo Park garage, the co-founders are now severing ties with the state that made them billionaires.
The catalyst is political. California is considering a ballot measure that would impose a one-time tax on residents worth over $1 billion, amounting to 5% of their total assets. With the combined net worth of Page and Brin exceeding $518 billion, the potential liability is astronomical. This isn’t just a lifestyle choice; it’s a calculated financial defense.
This diaspora of capital highlights the friction between state fiscal policy and the mobility of the ultra-wealthy. For founders and high-net-worth individuals, entity location isn’t just a paperwork detail—it’s a pillar of asset protection and estate planning. By shifting operations to tax-friendly jurisdictions like Nevada, they are legally insulating themselves from aggressive taxation.
Ultimately, the departure of Google’s founders from the California business landscape serves as a stark geopolitical signal. When the creators of the modern internet economy move their legal homes, it forces a conversation about the sustainability of taxing concentrated wealth. Their exit strategy is a masterclass in risk management, proving that for the world’s elite, geography remains negotiable when the price of residency becomes too high.
No Comments