Google Co-Founders Sergey Brin and Larry Page May Be Leaving California Soon
Sergey Brin and Larry Page are reducing their ties to California, possibly to avoid a new billionaire tax this November
The New York Times said that in December, Brin changed 15 companies he owns to be based in Nevada. These companies manage his superyacht and part of a private terminal at San Jose International Airport.
Page also changed 45 of his companies or made them inactive, and a trust linked to him just bought a big house in Miami for $71.9 million.
Moving for very rich people can be tricky, but both men still own homes in California. These changes could mean that Brin and Page want to avoid a new tax. This tax is 5% on billionaires if a measure goes to the ballot in November and passes. It would apply to anyone who lived in California starting January 1 of this year.