"An entity tied to Google cofounders Sergey Brin and Larry Page moved out of California at the end of 2025, beating the deadline on a proposed wealth tax of the state's rich and powerful. T-Rex LLC, formed in 2006 and linked to Brin and Page, converted out of California into a Delaware LLC called T-Rex Holdings on December 24, 2025, according to a California filing reviewed by Business Insider. Prior filings over the past 20 years listed Brin and Page as managers of the LLC at a Palo Alto address."
"The move comes as California's wealthiest residents are weighing whether to leave the state. A proposed ballot measure would make the roughly 200 California residents whose assets exceed $1 billion pay a one-time 5% tax. If the ballot measure is approved in November, it would take effect retroactively for residents living in California as of January 1, 2026. The measure attempts to address a projected multibillion-dollar state budget deficit."
T-Rex LLC, linked to Sergey Brin and Larry Page, converted from a California LLC into a Delaware LLC named T-Rex Holdings on December 24, 2025. The conversion filing listed a Reno, Nevada principal office while retaining Brin and Page as managers. Prior filings showed a Palo Alto address and managers listed Brin and Page over the past 20 years. The filing describes T-Rex Holdings as a "management company" and its activities are unclear. The move occurred amid a proposed California ballot measure to impose a one-time 5% tax on residents with assets over $1 billion, retroactive to January 1, 2026 if approved.
Read at Business Insider
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