Sergey Brin and Larry Page appear to be reducing their presence in California, the state where they co-founded Google. According to The New York Times, in December, 15 limited liability companies overseeing Brin’s investments and interests were terminated or converted into Nevada entities. Those include LLCs that manage one of his superyachts and his interest in a private terminal at the San Jose International Airport.
Similarly, 45 LLCs associated with Page have recently become inactive or moved out of state. Additionally, a trust associated with Page bought a $71.9 million mansion in Miami this week.
Moving is not a simple, black-and-white matter for the ultra-rich, and both Brin and Page still own homes in California. Still, these moves suggest that at least two of the state’s billionaires are hoping to dodge a prospective ballot measure. That measure would impose a one-time, 5% tax on individuals worth more than $1 billion. If the measure makes it onto the ballot in November and passes, it would retroactively apply to anyone who lived in the state as of January 1 of this year.