Larry Page and Sergey Brin are scaling back their connections with California, the state where they built Google and amassed their fortunes, as a proposed billionaire tax gains momentum. An entity linked to the Google co-founders moved out of California just before the end of 2025, narrowly beating the deadline tied to the proposed levy on the ultra-wealthy.
According to a California filing reviewed by Business Insider, T-Rex LLC, formed in 2006 and connected to Page and Brin, converted out of California into a Delaware entity on Dec. 24, 2025. For nearly two decades, filings had listed both Page and Brin as managers of the LLC at a Palo Alto, California, address.
The timing of the move has drawn attention as California’s wealthiest residents assess whether to remain in the state. A proposed ballot measure would require around 200 to 250 California residents with assets exceeding $1 billion to pay a one-time tax. The initiative is being led by the labour union Service Employees International Union-United Healthcare Workers West.