Billionaires make strategic moves out of California ahead of proposed wealth tax

As the clock ticks on California’s billionaires facing a proposed wealth tax, some of America’s top business leaders are making strategic moves to leave the Golden State.

Google co-founder Larry Page appears to be distancing himself from California, as public filings reviewed by Fox News Digital from the California Secretary of State’s office show several business entities linked to Page were moved out of the state in December, ahead of the Jan. 1, 2026, residency date tied to the proposed tax. Those filings indicate his family office, Koop LLC, and his influenza research fund, Flu Lab LLC, no longer list California, while a flying-car venture, One Aero, now lists its primary address in Florida.

Oracle founder Larry Ellison has taken steps that signal a potential pullback from California, though details of a reported $45 million off-market sale of his San Francisco home have not been independently confirmed by major outlets. The New York Post reported the sale and said it would mark the city’s largest real estate transaction of 2025.

Billionaires make strategic moves out of California ahead of proposed wealth tax

California billionaires like Larry Page and Larry Ellison are making business and real estate moves ahead of a proposed 5% wealth tax on assets over $1 billion goes into effect.

www.foxbusiness.com

 

[Margery]

Generally smart people avoid crazy places.

 

[Tall Timbers]

In some cases people really can't relocate unless they're willing to give up their businesses that they've grown over the course of their lives. One of my little brothers is saddled with that issue. He can't just move his numerous businesses out of state and his work is his life... so he's stuck, come what may.

 

[Batman]

It is ABSOLUTELY un-American to impose a "billionaire" tax on billionaires......the framers of our country would NOT be happy......but I suspect that's true of our abortion industry, divorce industry, unhealthy food mfg/supply, open borders, 35ish Trillion $ debt, soft on crime legal system, LGBTQ+, DEI, etc., etc.

 

[Tall Timbers]

It is ABSOLUTELY un-American to pose a "billionaire" tax on billionaires......the framers of our country would NOT be happy......but I suspect that's true of our abortion industry, divorce industry, unhealthy food mfg/supply, open borders, 35ish Trillion $ debt, soft on crime legal system, LGBTQ+, DEI, etc., etc.

It's nothing more than confiscation of private property by the govmint. If California gets away with it, it won't stop there and it won't stop with billionaires.

 

[Ghoti Ichthus]

Someday, I'll own nothing, and I'll be (perfectly) happy (in Heaven)