Larry Page has started moving some of his business assets out of California as organizers push to place a proposed tax on billionaires on the state’s 2026 ballot, according to Business Insider.
The Google co-founder has begun reincorporating several of his business entities in Delaware. These include his family office, Koop; his influenza research company, Flu Lab; his aviation company, Dynatomics; and his flying car startup, One Aero.
Page himself is reportedly no longer based in California, a source told Business Insider.
The development follows reports that the billionaire had previously told others he was considering leaving the state in response to the proposed tax. The measure would impose a 5% tax on individuals with assets valued at $1 billion. Other figures who have publicly opposed the ballot initiative include David Sacks, Palmer Luckey, and Alexis Ohanian.