In a move that’s grabbing headlines across the tech and wealth world, Google co-founder Larry Page has officially cut ties with California — the state that helped launch his tech empire — and shifted his business interests elsewhere. This decision highlights a larger trend of ultra-wealthy individuals reevaluating where they live, work, and protect their wealth.
🧠 Who Is Larry Page?
Larry Page co-founded Google in 1998 alongside Sergey Brin while both were students at Stanford University. Over the years, Google grew into Alphabet Inc. and became one of the most influential tech companies on the planet. Despite stepping back from day-to-day leadership in 2019, Page remains one of the world’s richest people.
🏡 The Big Move — What’s Happening?
According to filings and reports:
- Page relocated many of his business entities out of California by late 2025, transferring them to states like Delaware, Nevada, Florida, and Texas.
- His family office (Koop LLC), Flu Lab LLC (supporting flu research), and One Aero (his flying car venture) are now registered outside California.
- Page and his family reportedly left California altogether, though it’s not clear if the move is permanent.
💰 Why Is Page Leaving California?
The key motivator appears to be a controversial proposed wealth tax that could fundamentally affect the state’s richest residents:
🔹 California is considering a ballot initiative to impose a one-time 5% tax on individuals with a net worth greater than $1 billion.
🔹 If approved, the tax would apply retroactively to anyone living in the state as of January 1, 2026 — potentially costing tens of billions for someone like Page.
🔹 Facing this prospect, many wealthy individuals are moving business entities or even their personal residences out of the state ahead of the deadline.
This decision isn’t unique to Page. Other Silicon Valley billionaires and tech figures have also signaled similar concerns — reshaping the future of high-net-worth residency trends.
🧭 Why Delaware, Florida, and Texas?
Wealth-savvy individuals choose these states for a few reasons:
📌 Tax advantages – Delaware and Florida have favorable tax environments and no state income tax in key cases.
📌 Business privacy – States like Delaware don’t require as much public disclosure for LLCs, offering more privacy for wealthy owners.
📌 Lifestyle & Planning – Florida and Texas offer warm climates, growing luxury property markets, and business-friendly policies — adding to their appeal.
📈 What Does It Mean for Wealth Management?
Page’s move highlights several important trends for high-net-worth individuals and wealth advisors:
✅ Tax planning is increasingly global — residency decisions are no longer just about lifestyle but strategic tax positioning.
✅ State policies matter — changes in taxation at the state level can trigger asset restructuring or migration.
✅ Wealth hubs may shift — while Silicon Valley has been dominant for decades, financial gravity may be shifting toward regions with better tax and regulatory environments.
💡 Final Thoughts
Larry Page’s departure from California reflects more than just a personal choice — it’s part of a broader wealth movement driven by tax policy, privacy concerns, and strategic planning.
For affluent individuals, entrepreneurs, and advisors, this moment is a powerful reminder to stay vigilant about how tax laws and residency decisions can make or break financial legacies. As the wealth landscape continues to evolve, understanding these trends will be critical for smart, future-ready wealth management.