Larry Page is starting to move some business assets away from California. This shift comes as organizers work to get a proposed tax on billionaires added to the 2026 ballot.
The Google co-founder has begun reincorporating several of his business entities in Delaware. These include his family office, Koop, his influenza research company, Flu Lab, his aviation company, Dynatomics, and his flying car startup, One Aero. Page himself is reportedly no longer living in the state.
The news follows reports that the billionaire told others he was looking to leave California because of the proposed tax. The measure would impose a 5 percent tax on individuals with assets worth one billion dollars.
Other prominent figures have also spoken out against the ballot initiative. They include David Sacks, Palmer Luckey, and Alexis Ohanian.