Filing: Larry Page moved assets out of California ahead of the proposed CA wealth tax, meeting an end-of-2025 deadline; a source said he has left the state
- Google cofounder Larry Page is cutting ties with California. — A source said Page had already left the state.
Business InsiderHugh Langley
Context & Ripple Effects
This filing turns earlier reports that Page and Peter Thiel were considering leaving California over the ballot measure into a documented action by one of the people named. It matters because the dispute has moved beyond public opposition to residency and asset-location decisions.
Page’s reported departure and asset move position him outside California before the proposal’s stated deadline, reducing his direct exposure if the measure’s residency and asset rules apply as described.
The filing supplies a concrete example for advocates and opponents of the proposed tax, rather than leaving the potential exit of major tech figures as an unverified possibility.
Second-order effects
Other ultra-wealthy California residents may reassess residency, asset ownership, and timing decisions; the earlier reports involving Page and Thiel make the move a more visible reference point in that calculation.
The measure’s opponents gain evidence for their argument that it could alter taxpayer location decisions, while supporters face greater pressure to define how the proposal would treat departures and transferred assets.
Third-order effects
If similar moves spread, state wealth-tax debates could increasingly hinge on mobility and enforcement design, not only on the tax rate or revenue case.
The related coverage suggests California policy fights are becoming a more organized arena for tech leaders’ political activity, with residency decisions and electoral influence operating as parallel responses.
The trend: This is one data point in tech billionaires treating state tax proposals as both personal residency decisions and catalysts for coordinated political engagement.
Because hell, why share a little wealth with people who need the money much more than you, Larry. Maybe help tackle the homeless situation your industry helped to create. [embedded post]
There's a California ballot initiative that will levy a one-time tax of 5% of the wealth of billionaires who lived in the state as of January 1st 2026, if it passes. — Larry Page, the second richest man in the world has moved out of California to avoid the tax.
Larry Page “has cut ties between California and many of his assets that risked exposing him to a proposed new wealth tax in the state, meeting an end-of-2025 deadline, according to filings reviewed by Business Insider.” — www.businessinsider.com/larry-page- l...
Business Insider confirms our earlier reporting that Google cofounder Larry Page is cutting ties with California ahead of a voter initiative to tax the state's billionaires. — Good findings on how he's re-registered his businesses in other states. — www.businessinsider.com/la…
This guy hasn't done anything innovative for decades, and I'm sure California will continue to attract young, hungry entrepreneurs who want to build something new. All these guys do is build moats and protect their wealth to keep newcomers out. Disrupt! — www.businessinsider.…
It's hard for me to model the mind of someone who thinks the state government of California has a better capital allocation track record than Jensen Huang. Sorry Jensen, the People insist that you hold onto your money.
More billionaires should be as cool as Nividia CEO, Jensen Huang. Dude may pay around $7 billion in taxes and still have $148 billion. He knows he's going to be perfectly fine.
Any framing of this as an endorsement is ridiculous. Nvidia is stuck because its employees live near Santa Clara. Jensen moving states would cause a large business disruption with the way he manages the company. But that doesn't mean the wealth tax is a good idea for California
Nvidia CEO Jensen Huang said he isn't concerned about a billionaires tax under consideration in his home state of California https://www.bloomberg.com/...
It's so funny to look at these figures. Huang would have to pay a one-time $7 billion sum on $155 billion fortune. “Who cares” is absolutely the appropriate reaction. It means nothing to him. David Sacks types look like the biggest babies in the world. [image]
How does Nvidia CEO Jensen Huang feel about California's proposed billionaire tax? — “We chose to live in Silicon Valley, and whatever taxes I guess they would like to apply, so be it. I'm perfectly fine with it.” www.bloomberg.com/news/article...
And where is the SEIU-UHWW, the union sponsoring the billionaire tax measure, on all of this? They're glad that “much like the overwhelming majority of billionaires, Mr. Huang will not be uprooting his life or business to make an ideological point.” [image]