"Page's family office, Koop, was converted out of California in late December and incorporated in Delaware, per filings with both states. Page converted several other entities to Delaware, including Flu Lab LLC - a vehicle he has used to fund research on tackling influenza and lists its principal office address in Nevada - and another entity named One Aero, which has funded his flying car ventures and lists its principal office address in Florida."
"A filing was also made to convert Dynatomics, LLC from California to Delaware with a new principal address in Keller, Texas. Page launched Dynatomics, a new startup focused on applying AI to aircraft manufacturing, in 2023, Business Insider previously reported. A source close to Page said that the team, run by Chris Anderson, continues to work out of California. Anderson and representatives for Page's family office did not respond to requests for comment."
Larry Page moved and restructured multiple entities out of California into other states, including Delaware, Florida, Nevada, and Texas, to limit exposure to a proposed California wealth tax. Page's family office, Koop, was converted out of California and incorporated in Delaware in late December. He converted Flu Lab LLC and One Aero to Delaware while listing principal addresses in Nevada and Florida, and filed to convert Dynatomics, LLC to Delaware with a new principal address in Keller, Texas. A source said Page had already left the state. The Dynatomics team continues to work out of California. A proposed ballot measure would tax California residents worth over $1 billion five percent of their assets; residency under California law depends on time spent in the state and maintenance of substantial business ties.
Read at Business Insider
Unable to calculate read time
Collection
[
|
...
]