Larry Page is one of the people who helped start Google and later became one of the richest people in the world. Because of Google’s success, his wealth is estimated in the tens of billions of dollars. Even though he keeps a low profile today, his financial decisions still get a lot of attention, especially when they involve big changes like leaving California.
What California Is Planning
California lawmakers are discussing a new wealth tax that would target only the very richest people. The proposal would apply to people worth more than one billion dollars. If approved by voters, the tax would take a percentage of their total wealth, not just their income. The tax could apply starting in 2026, and it could include wealth that already exists, not just future earnings. That detail has made many billionaires nervous.
Why Larry Page Is Making Changes
Because of this possible tax, Larry Page has started moving parts of his financial life out of California. The timing is important. If someone is still considered a California resident when the tax takes effect, they could owe billions. By leaving early, Page may be trying to protect his wealth before the rules change. This is not about saving a small amount of money. For someone at his level, the difference could be massive.
What He Has Already Moved
Page has changed the official locations of several businesses and personal investment companies he controls. Some of these companies focus on medical research, future transportation, and managing their family’s wealth. Their addresses have been moved to states that are known for lower taxes and more business-friendly laws. Even though people may still work for these companies in California, the legal home of the business now matters more than the physical office.
What This Means for California
Larry Page is not the only wealthy person thinking this way. Other billionaires are watching closely and deciding whether to stay or leave. Supporters of the tax say the money could help fund public services and reduce inequality. Critics argue that it could push rich residents out of the state and reduce long-term tax revenue. Page’s move is being seen as a real example of how people might respond if the tax becomes law.
