Larry Page loosens business ties to CA amid state’s proposed wealth tax, report

Larry Page is taking significant steps to relocate some of his business interests away from California. This shift comes as efforts are underway to introduce a proposed tax targeting billionaires on the 2026 ballot, as reported by Business Insider. The co-founder of Google has started the process of reincorporating various business entities in Delaware. These include his family office, Koop; his influenza research venture, Flu Lab; his aviation company, Dynatomics; and his innovative flying car startup, One Aero. According to sources, Page is no longer residing in California, which raises eyebrows about his future business plans in the Golden State. This development follows Page's discussions with associates indicating his preference to exit California, especially in light of the proposed wealth tax that would levy a 5% tax on individuals with assets exceeding $1 billion. Prominent figures like David Sacks, Palmer Luckey, and Alexis Ohanian have also expressed their opposition to this ballot initiative.