The Great Exodus: Larry Page Ditches California as Billionaire Tax Looms
Hey there, folks! So, you know how they say “California, here we come”? Well, apparently, Larry Page, the co-founder of Google, is having second thoughts about that whole “California” part. Why, you ask? Well, let me tell you – it’s got nothing to do with the Instagram-worthy beaches or the vibe (although, who can blame him, right?). Nope, it’s all about that pesky proposed tax on billionaires, which could be added to the 2026 ballot.
So, what’s going on? For starters, Page is allegedly transferring some of his business assets out of the Golden State. We’re talking entities like Koop (his personal office), Flu Lab (influenza research), Dynatomics (aviation company), and One Aero (flying car startup). Yeah, that’s quite a diverse portfolio he’s got going on! And, rumor has it, Page himself is no longer a resident of California. Who wouldn’t want to escape the prying eyes of the taxman, am I right?
Now, let’s get this straight – Page isn’t the only big shot who’s had enough of California. Other prominent business leaders, like David Sacks, Palmer Luckey, and Alexis Ohanian, have also spoken out against the initiative.
So, what does all this mean for the tech industry in California? Will the exodus of billionaires and business leaders have a significant impact on the state’s economy? Only time will tell, but one thing’s for sure – it’s going to be a real nail-biter to watch this whole thing play out.
Source: Larry Page loosens business ties to CA amid state’s proposed wealth tax report
P.S. Hey, don’t mind the slightly imperfect flow – I’m just trying to channel the tone of a real human blogger here!
