Tech Titans Shift Base Ahead of California's Wealth Tax

A Strategic Move Before the Tax Deadline

Sergey Brin and Larry Page, the co-founders of Google, have quietly moved their business entity, T-Rex LLC, from California to Delaware. This relocation occurred just before California proposed a new tax on the ultra-wealthy, set to take effect in January 2026.

The Proposed Wealth Tax

• Target: Around 200 individuals with assets over $1 billion.
• Tax Rate: A one-time 5% charge.
• Effective Date: January 2026, retroactive to the end of 2025.

The Ultra-Rich Trend

Brin and Page, each with a net worth exceeding $250 billion, are not alone. Many ultra-wealthy individuals are considering leaving California to avoid the new tax. The state is grappling with a significant budget deficit, and this tax is one proposed solution.

T-Rex LLC: A Mystery

• Purpose: Described as a management company.
• Operations: Manages investments with little public scrutiny.
• Name: Possibly a nod to a famous statue at Google's headquarters.

Different Paths Post-Google

• Sergey Brin: More involved in daily operations.
• Larry Page: Remains a controlling shareholder but stays out of day-to-day management.

The Uncertainty of the Wealth Tax

• Status: Still up in the air, needing enough signatures for the November ballot.
• Retroactive Application: If approved, the tax will apply retroactively to the end of 2025.
• Residency Complexity: Determining residency in California involves multiple factors, making it challenging for the ultra-rich to simply move out and avoid the tax.