Sergey Brin and Larry Page appear to be reducing their presence in the state where they co-founded Google.
The New York Times reports that in December, 15 limited liability companies overseeing Brin’s investments and interests were terminated or converted into Nevada entities. Those include LLCs that manage one of his superyachts and his interest in a private terminal at the San Jose International Airport.
Similarly, 45 LLCs associated with Page have recently become inactive or moved out of state, and a trust associated with Page bought a $71.9 million mansion in Miami this week, according to the NYT.
Clearly, moving is not a simple, black-and-white thing for the ultra-rich, and Brin and Page both still own homes in the state, the NYT says. Still, these moves suggest that at least two of California’s billionaires are indeed hoping to dodge a prospective ballot measure that would impose a one-time, 5% tax on individuals worth more than $1 billion.
If the measure makes it onto the ballot in November and actually passes, it would retroactively apply to anyone who lived in the state as of January 1 of this year.
Government & Policy,Google,Larry Page,Sergey BrinGoogle,Larry Page,Sergey Brin#Google #cofounders #leaving #California1768173295
