Tech Titans Shift Base Ahead of California's Wealth Tax

Sergey Brin and Larry Page, the masterminds behind Google, have quietly relocated their business entity from California. This move happened just before a new tax law could have hit their pockets hard. The company, known as T-Rex LLC, switched to Delaware at the end of 2025. This change came right before California proposed a new tax on the super-rich. The new tax plan would have affected around 200 people in California. These are individuals with assets over $1 billion. The tax would have been a one-time 5% charge. If approved, it would have started from January 2026. This means anyone still in California by the end of 2025 would have to pay up. Brin and Page are among the wealthiest people in the world. They have a net worth of over $250 billion each. Their move mirrors a trend among the ultra-rich. Many are considering leaving California to avoid the new tax. The state is facing a big budget deficit. This tax is one way to tackle that issue.The exact purpose of T-Rex LLC is unclear. It is described as a management company. Like many wealthy executives, Brin and Page use LLCs to manage their investments. These entities often operate with little public scrutiny. The name T-Rex might be a nod to a famous statue at Google's headquarters. Brin and Page have taken different paths since stepping back from Google in 2019. Brin is more involved in the company's daily operations. Page, on the other hand, remains a controlling shareholder but stays out of day-to-day management. California's proposed wealth tax is still up in the air. It needs enough signatures to make it to the ballot in November. If voters approve it, the tax will apply retroactively. This means anyone who wants to avoid it must have left the state by the end of 2025. Determining residency in California is not straightforward. The state looks at various factors. These include the time spent in California and any significant business dealings. This makes it tricky for the ultra-rich to simply move out and avoid the tax.