Larry Page Reportedly Leaves California Amid Wealth Tax Debate
Larry Page, the co-founder of Google, has reportedly left California amid growing momentum for a proposed wealth tax targeting billionaires.
According to filings cited by Business Insider, Page has transferred the registration of several entities, including his family office and a flying car venture, from California to Delaware. He has also personally moved out of the state ahead of a possible vote on a one-off 5% wealth tax on assets exceeding $1 bn.
The proposal, backed by a healthcare union, could be put to a public referendum in November and would apply retroactively from January 1, 2026. California Governor Gavin Newsom has opposed the measure, though its prospects remain uncertain.
Page, whose net worth is estimated at around $270 bn, has reportedly considered relocating to Florida. If enacted, the tax could cost him more than $13 bn.
Other tech billionaires have also reacted differently to the proposal. Elon Musk moved from California to Texas in 2020, while Jensen Huang, head of Nvidia, has said he is unconcerned about the possibility of higher taxes.
Kursiv Uzbekistan also reports that the European Bank for Reconstruction and Development (EBRD) is backing the expansion of Uzbekistan’s pharmaceutical industry by providing a loan of up to $20 mln to leading local manufacturer Nika Pharm.
