Larry Page begins moving business entities out of California amid proposed billionaire tax

Larry Page is starting to move some business assets out of California as organizers work to get a proposed tax on billionaires added to the 2026 ballot, according to Business Insider.

Business Insider reported Page has begun reincorporating several of his business entities in Delaware, including his family office Koop; his influenza research company, Flu Lab; his aviation company, Dynatomics; and his flying car startup, One Aero. The outlet said a source told it Page is reportedly no longer in the state, and that the billionaire had told others he was looking to leave amid the proposed tax.

The proposed ballot initiative would impose a 5% tax on those with assets worth $1 billion, and organizers are working to add it to the 2026 ballot. Other people who have spoken out against the initiative include David Sacks, Palmer Luckey, and Alexis Ohanian.

Key Topics

Tech, Larry Page, California, Delaware, Koop, Flu Lab