It seems that Sergey Brin and Larry Page are scaling back their involvement in the state where they founded Google.
According to The New York Times, in December, 15 limited liability companies that oversaw Brin’s investments and interests were either terminated or converted into Nevada entities. These included LLCs managing his superyachts and his stake in a private terminal at the San Jose International Airport.
Similarly, 45 LLCs linked to Page have recently become inactive or relocated out of state. Additionally, a trust associated with Page purchased a $71.9 million mansion in Miami this week, as reported by the NYT.
Although Brin and Page still own homes in the state, these changes indicate that at least two of California’s billionaires may be trying to avoid a potential ballot measure imposing a one-time, 5% tax on individuals with assets exceeding $1 billion.
If the measure appears on the November ballot and is approved, it would retroactively impact anyone residing in the state as of January 1 this year.
