Sergey Brin and Larry Page, the billionaire co-founders of Google, appear to be scaling back their financial footprint in California, the state where they launched one of the world’s most influential technology companies. Recent corporate and property records suggest a gradual repositioning of assets beyond the Golden State, raising questions about the long-term presence of two of Silicon Valley’s most prominent figures.

According to a report by The New York Times, fifteen limited liability companies linked to Brin’s investments were either dissolved or converted into Nevada-based entities in December. Among these were companies connected to the management of one of his superyachts and his stake in a private aviation terminal at San Jose International Airport, indicating a strategic restructuring of high-value assets.

Larry Page has taken similar steps. The report notes that forty-five LLCs associated with him have recently become inactive or relocated out of California. In addition, a trust connected to Page reportedly acquired a luxury mansion in Miami valued at seventy-one point nine million dollars, further underscoring a growing financial presence outside the state.

While neither Brin nor Page has completely severed ties with California—they reportedly still own homes there—the timing of these moves is significant. Analysts suggest the actions may be linked to efforts to avoid a proposed ballot initiative that would introduce a one-time five percent tax on individuals with a net worth exceeding one billion dollars. If approved in November, the measure would apply retroactively to anyone who was a California resident as of January first this year, potentially affecting some of the state’s wealthiest residents.

Source: Techcrunch