The Departure
Sergey Brin is reducing his ties to California, following co-founder Larry Page in distancing from the state where Google was built. The moves come as California faces a proposed ballot measure targeting its wealthiest residents.
The Proposed Tax
A health care union has proposed a ballot initiative requiring Californians worth more than $1 billion to pay a one-time tax equivalent to 5% of their total assets. If the measure collects sufficient signatures for the November ballot and wins voter approval, it would retroactively apply to anyone who lived in California as of January 1, 2025. Those affected would have five years to pay.
The timing of the Google founders' departures reflects broader conversations about wealth taxation and state residency among high-net-worth individuals. Both Page and Brin built their fortunes in Silicon Valley, where Google was founded in 1998.
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