Google cofounder Larry Page appears ready to bid farewell to the state where he established his tech giant and much of his wealth.
Page is converting several of his assets out of California, according to filings reviewed by Fortune, cutting ties with the state following the proposal of a wealth tax that would impact California’s roughly 200 billionaires. While some billionaires have started fleeing the Golden State, others appear unbothered, like Nvidia CEO Jensen Huang, who says he doesn’t care about the tax.
Koop, Page’s family office, was converted out of California and incorporated in Delaware on Dec. 23, filings in the respective states show. Flu Lab LLC, a health care testing services company linked with Page, as well as One Aero, reportedly Page’s shell company that has funded his ventures to develop a flying car, were likewise moved from California to Delaware. Ocean science nonprofit Oceankind, founded by Page’s wife Lucy Southworth in 2018, was also incorporated in Delaware last month, having previously been in California.
These assets were converted out of California ahead of a de facto end-of-year deadline. If the ballot initiative wins approval after the November election, it will retroactively apply to California residents as of Jan. 1, 2026.
