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Outbyte Driver Updater FREEFix the driver behind crashes, sound loss and screen glitchesFind Drivers →Outbyte PC Repair FREEClear out junk files and repair common Windows errorsFree Scan →Reporting in January 2026 documented several Larry Page-associated entities moving or converting out of California, and Fortune reported—citing an anonymous source who spoke to Business Insider—that Page had physically left the state. That does not establish his tax residency or prove the move protected him from California’s proposed billionaire tax. The proposal tied coverage to residency on January 1, 2026, while the reported $12.5 billion figure is not confirmed by the available estimate.
What is known about Larry Page’s move?
Fortune reported that filings showed Koop, Page’s family office, converted out of California and was incorporated in Delaware on December 23, 2025. It also reported that Flu Lab LLC, One Aero and the Oceankind nonprofit had moved or converted. Those filings concern the entities; they do not, by themselves, show where Page was domiciled for tax purposes or establish that he personally owned each organization.
Fortune separately reported that an anonymous source told Business Insider that Page had physically left California. Fortune said it could not reach him for comment. No primary statement from Page or independently verified determination of his tax domicile was available in the cited reporting. Fortune’s January 7, 2026 report
How would California’s proposed billionaire tax work?
The California Legislative Analyst’s Office described a proposed one-time tax of 5% of covered net worth for billionaires living in California on January 1, 2026. It said payment would be due in 2027, with an option to spread payments over five years at additional cost. Its summary said real estate, pensions and retirement accounts would be excluded. This was a proposal, not an enacted tax, in the LAO’s analysis. California Legislative Analyst’s Office ballot analysis
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The LAO said 90% of the proceeds would be set aside for public health care services, with the remainder for administration, education and food assistance. The proposal’s mechanics and eventual legal status are time-sensitive: the Los Angeles Times reported on June 17, 2026 that it had enough valid signatures to be eligible for the November ballot, while negotiations were ongoing at that time. That dated account does not establish the final ballot outcome. Los Angeles Times, June 17, 2026
Would leaving California have protected Page?
The key date in the LAO’s description is January 1, 2026. Whether a particular person met the proposal’s residency test would depend on that person’s circumstances and the applicable rules; a business entity’s out-of-state filing is not conclusive proof of an individual’s domicile. The available reporting does not establish Page’s tax residency on that date, whether the proposal would apply to him, or whether a move would eliminate any potential liability.
CalMatters’ October 2026 explainer describes unresolved disputes about valuation and implementation, as well as possible legal challenges to retroactive application. It also says experts see little evidence to forecast a large-scale exodus for this unusually designed proposal. Those broader uncertainties do not resolve Page’s individual situation. CalMatters’ October 2026 explainer
How much might Page owe?
The $12.5 billion figure in the assigned headline is not corroborated by the reviewed reporting. Fortune’s January 7, 2026 article cited an approximately $270 billion Bloomberg Billionaire Index estimate for Page’s net worth and calculated a roughly $13 billion possible tax. That was an illustrative estimate conditional on the proposal passing and applying to him—not an assessment, confirmed bill or amount owed. Wealth estimates change, and the proposal’s exclusions and rules would matter to any actual calculation.
What could the tax mean for California’s finances?
The LAO projected temporary receipts of tens of billions of dollars spread over several years, alongside a possible ongoing reduction in income-tax receipts of hundreds of millions of dollars or more per year if responses such as relocation occurred. These are projections, not measured collections or losses, and the LAO cautioned: “The exact amount the state would collect is very hard to predict for many reasons.” Valuation questions, taxpayer behavior and implementation all affect the estimates.
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