Larry Page loosens business ties to CA amid state’s proposed wealth tax, report

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

The Google co-founder 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.

Page himself is reportedly no longer in the state, a source told Business Insider. 

The news comes after the billionaire reportedly told others he was looking to leave the state amid the proposed tax, which would impose a 5% tax on those with assets worth $1 billion. Other names who have spoken out against the ballot initiative include David Sacks, Palmer Luckey, and Alexis Ohanian.