"California has proposed the Billionaire Tax Act, which would impose a one-time 5% tax on residents worth over $1 billion. Page, whose net worth is $269 billion as of January according to Forbes, isn't giving California the option to tax him and is deserting the Golden State for a state on the opposite extreme of taxing the wealthy: Florida. The proposed bill, which doesn't appear on the ballot until November, would retroactively tax billionaires living in California as of January 1."
"Page purchased a 4.5-acre compound in Miami's glamorous Coconut Grove neighborhood in December 2025 for $101.5 million, as first reported by The Wall Street Journal. Miami-Dade County property records show late restaurateur Jonathan Lewis previously owned the property. And for good measure, property records show a trust linked to Page bought another property - less than a mile away from the other - for $71.9 million in January this year."
California proposed the Billionaire Tax Act imposing a one-time 5% tax on residents worth over $1 billion, with retroactive effect to January 1. Larry Page, with a reported net worth of $269 billion as of January, acquired a 4.5-acre Coconut Grove compound in December 2025 for $101.5 million and a separate nearby property via a trust for $71.9 million in January. The trust is registered as Tropical Frontier Revocable Trust and lists trustees including Florida attorney Benjamin Babcock and Mary McFadden Quisenberry. Miami's rise as a tech hub has attracted ultrawealthy buyers such as Page and Jeff Bezos.
Read at Business Insider
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