Sergey Brin has reportedly restructured multiple business entities in California, following a similar pattern established by his Google cofounder Larry Page, as the state prepares to vote on a proposed wealth tax targeting billionaires.
The New York Post reports that Sergey Brin, the co-founder of Google, has taken steps to reduce his business presence in California by restructuring numerous corporate entities. The moves mirror actions taken by his longtime business partner Larry Page and come as California voters prepare to consider a ballot initiative that would impose a significant wealth tax on billionaire residents.
Breitbart News previously reported on Page, the second-richest person in the world, working to move his business interests out of California before the deadline of a potential wealth tax in the state:
Google cofounder Larry Page has completed the process of cutting business ties with California, transferring numerous entities out of the state ahead of a December 2025 deadline connected to a proposed wealth tax measure. The moves were confirmed through official filings reviewed by Business Insider and represent a significant shift in how the billionaire structures his business operations. The move is ironic as Google is an infamously leftist company — apparently its founders draw the line at their own pocketbooks.
Page’s family office, known as Koop, underwent conversion from California to Delaware incorporation in late December, according to filings submitted to both states. The reorganization extended beyond just the family office, encompassing multiple business entities associated with Page’s various investments and ventures.
Last month, an entity associated with Brin either terminated or relocated 15 California limited liability companies that managed various aspects of his business interests and investment portfolio. Among these entities, seven were converted into Nevada-based companies in mid-December, approximately 10 days before Christmas. These converted entities reportedly include those managing one of Brin’s super-yachts and his ownership stake in a private air terminal located at San Jose International Airport.
The restructuring follows even more extensive changes made by Page, who has dramatically reduced his California business footprint. State records and property deeds reveal that more than 45 California limited liability companies connected to Page have recently filed paperwork to become inactive or relocate to other states. Additionally, a trust linked to Page purchased a mansion in Miami’s Coconut Grove neighborhood for $71.9 million.
The timing of these corporate restructurings coincides with California’s consideration of a ballot initiative that would establish a one-time wealth tax of five percent on residents with a net worth exceeding $1 billion. The proposal, which has received backing from a powerful health care union, would apply retroactively to anyone who resided in California as of January 1. The measure would provide affected taxpayers with a five-year period to pay the assessment.
According to the Bloomberg Billionaires Index, both founders rank among the wealthiest people globally. Larry Page holds the second position with an estimated net worth of $279 billion, while Sergey Brin occupies the fourth spot with approximately $259 billion. Their combined wealth totals roughly $538 billion, positioning them as potentially the two largest individual targets of California’s proposed billionaire wealth tax.
The potential exodus of billionaires from California extends beyond the Google co-founders. Peter Thiel, who co-founded PayPal, has increased his presence in Florida by establishing a Miami office for his investment firm. David Sacks, a billionaire venture capitalist, relocated from San Francisco to Austin, Texas, in late 2025. Tech investor Chamath Palihapitiya has publicly stated he is seriously considering a move to Texas as well.
Read more at the New York Post here.
Lucas Nolan is a reporter for Breitbart News covering issues of free speech and online censorship.
