Larry Page could dodge nearly $15 billion in taxes after leaving California and spending $173 million on a Miami compound
Source: Fortune ·
The Google cofounder started cutting ties with the state last year. Californians vote Nov. 3 on whether to tax their billionaires.
From the source
In just a couple of weeks, Californians will vote on ballot measure Prop 40—a highly debated measure that would require a one-time 5% tax on the state’s billionaires who lived there as of Jan. 1, 2026. While some billionaires like Nvidia CEO Jensen Huang are “perfectly fine” with the measure, others left the state ahead of the cutoff. One was Larry Page, the 53-year-old Google cofounder who had ties to California for decades and began severing them after the wealth tax proposal. He’s currently worth $292 billion, so he would have owed nearly $15 billion had he stayed. In late December, Koop, Page’s family office, was converted out of California and incorporated in Delaware, Fortune’s Sasha Rogelberg previously reported. Other organizations linked to Page, including Flu Lab LLC, One Aero, and Oceankind, were also incorporated in Delaware that month, after previously being in California, Rogelberg’s analysis of state filings found. Meanwhile, he spent big on homes on the other side of…