For nearly thirty years, Google has been inseparable from the mythology of Silicon Valley. The company’s origin story is one of the most famous in modern technology: in 1998, two Stanford University graduate students, Larry Page and Sergey Brin, built a new kind of search engine and launched their startup from a friend’s garage in Menlo Park, California. What began as an academic experiment quickly evolved into a defining force of the internet age.

Over time, Google grew into one of the most powerful corporations in the world, with a market value approaching four trillion dollars. Its rise helped solidify Northern California as the global center of the digital economy, attracting talent, capital, and innovation on an unprecedented scale. For decades, Page and Brin were seen not only as tech pioneers, but also as symbols of California’s dominance in the technology sector.

Now, however, the two founders appear to be quietly loosening some of their long-standing ties to the state that played such a central role in their success.

According to corporate filings reviewed by The New York Times, an entity linked to Sergey Brin, who is 52, dissolved or relocated 15 California limited liability companies in the 10 days leading up to Christmas. These companies oversee parts of his investment portfolio and business interests. Seven of them were converted into Nevada entities, including companies that appear to manage one of Brin’s superyachts and his stake in a private aviation terminal at San Jose International Airport.

Brin’s moves follow similar steps taken by Larry Page, also 52, who has been scaling back his California footprint as well. State records show that more than 45 California-based limited liability companies associated with Page filed paperwork last month to either become inactive or relocate outside the state. In addition, a trust connected to Page purchased a mansion worth $71.9 million in Miami’s Coconut Grove neighborhood, according to property records reviewed by The Times.

The trend does not stop there. Another company jointly managed by Page and Brin officially moved from California to Nevada on Christmas Eve, according to a filing obtained by The Times. Taken together, these actions suggest a deliberate effort by Google’s founders to diversify their legal and financial presence beyond California.

These changes come at a politically sensitive moment for the state. California is currently facing a proposed ballot initiative that would directly affect its wealthiest residents. Backed by a health care union, the measure would impose a one-time tax on individuals with net worths exceeding $1 billion. The tax would be set at the equivalent of 5 percent of a person’s total assets.

If the initiative collects enough signatures, it could appear on the statewide ballot in November. Should voters approve it, the tax would apply retroactively to anyone who was a California resident as of January 1. Those affected would then have up to five years to pay the full amount. Supporters argue that the revenue would help offset federal budget cuts impacting California’s health care system, while critics warn of unintended consequences.

Even before the measure has reached the ballot, it has already influenced the behavior of some of the state’s wealthiest individuals. In recent months, several prominent figures in technology and venture capital have taken steps to strengthen their ties outside California. Peter Thiel, the billionaire investor and co-founder of PayPal, announced last month that his family investment firm had opened an office in Miami. David Sacks, a tech investor and White House adviser on artificial intelligence and cryptocurrency, revealed that his venture capital firm, Craft Ventures, had established a new office in Austin, Texas.

Still, the actions of Page and Brin have drawn particular attention because of both their enormous wealth and their deep association with California. According to Forbes estimates, their combined net worth exceeds $518 billion. Few entrepreneurs are as closely linked to the state’s modern identity as the founders of Google.

Although both stepped away from day-to-day management of Google and its parent company, Alphabet, in 2019, they have remained influential figures. They continue to serve on the company’s board, and Brin has reportedly taken on a more active role in recent months, particularly in guiding Google’s artificial intelligence initiatives.

Despite the recent restructuring of their business entities, neither Page nor Brin has fully severed ties with California. Both still own multiple homes across the state, and it remains unclear how much time they plan to spend there in the coming year. Their representatives have offered little insight into their personal intentions. A spokesperson for Brin declined to comment, while Google and representatives for Page did not respond to requests for comment. Reports on Page’s Miami property purchase and the movement of the founders’ companies were previously covered by The Wall Street Journal and Business Insider.

The proposed wealth tax has sparked intense debate across California’s political and business communities. The initiative, introduced by the Service Employees International Union–United Healthcare Workers West, has drawn reactions ranging from strong opposition to cautious acceptance.

Governor Gavin Newsom has openly criticized the proposal, describing it as poor policy. He has argued that such a tax would encourage billionaires to relocate to states with more favorable tax environments, ultimately reducing California’s tax base rather than strengthening it. In his view, the measure risks driving away the very individuals whose investments and companies have fueled the state’s economic growth.

Representative Ro Khanna, a Democrat whose congressional district includes part of Silicon Valley, has taken a different stance. He has defended the initiative as a necessary step to address inequality and protect essential public services. His support, however, has angered some technology investors and entrepreneurs, who have reportedly discussed funding a challenger in his next election.

Many critics of the proposal warn that it could have broader consequences beyond the immediate loss of tax revenue. They argue that imposing a large, one-time tax on unrealized wealth could force founders and executives to sell shares in the companies they lead, potentially destabilizing businesses and discouraging long-term innovation.

Reid Hoffman, the billionaire co-founder of LinkedIn and a longtime Silicon Valley resident, has been among the most vocal opponents. He described the wealth tax as a “horrendous idea,” suggesting that it could pressure entrepreneurs into liquidating ownership stakes simply to meet tax obligations. In a post on social media, Hoffman argued that poorly structured taxes tend to encourage avoidance, capital flight, and economic distortions, often resulting in lower overall revenue than expected. A spokeswoman for Hoffman later said he was unavailable for further comment.

Not all wealthy tech leaders share this view. Jensen Huang, the chief executive of Nvidia and one of California’s richest residents, publicly stated that he was willing to accept the tax. In an interview with Bloomberg Television, Huang said that living in Silicon Valley meant accepting whatever tax policies local governments choose to implement. He added that he was comfortable with the idea, emphasizing a sense of responsibility tied to benefiting from the region’s ecosystem. Nvidia declined to provide additional comment.

Supporters of the initiative also push back against the narrative that California is on the brink of a mass exodus of billionaires. Suzanne Jimenez, chief of staff at SEIU–United Healthcare Workers West, said in a statement that fears of widespread departures have been exaggerated.

According to Jimenez, the vast majority of billionaires who were subject to the proposed tax remained in California past the January 1 deadline. She argued that only a small fraction left the state beforehand, despite weeks of warnings from critics who claimed the tax would trigger a large-scale flight of wealth. In her view, the debate has been fueled more by alarmist rhetoric than by actual evidence.

As California continues to grapple with rising inequality, budget pressures, and the future of its innovation economy, the decisions made by figures like Larry Page and Sergey Brin will be closely watched. Their gradual shift away from California does not necessarily signal a complete departure, but it does highlight the growing tension between progressive tax policy and the mobility of extreme wealth.

Whether the proposed wealth tax ultimately becomes law remains uncertain. What is clear, however, is that the conversation has already begun to reshape how some of the most influential figures in technology think about where they live, invest, and anchor their businesses. For a state that has long thrived on its ability to attract and retain visionary entrepreneurs, the outcome of this debate could have lasting implications for California’s role in the global technology landscape.