A massive name in the tech industry is the latest to cut ties with California.
Google co-founder Sergey Brin is now counted among those who are cutting business ties with the blue state after an entity connected to him terminated or canceled a whopping 15 California limited liability companies (LLCs).
Larry Page, the other Google co-founder, led the way in December when “more than 45 California LLCs associated with Page filed paperwork to move out of the state or become inactive, and a trust with ties to him recently bought a $71.9 million home in Miami,” according to a Fox Business report.
AÂ New York Times report also indicates that an entity tied to both Page and Brin moved to Nevada from California on Christmas, though both men still have homes in California.
The moves come amid reports that support for a one-time 5% tax will be imposed on residents with a net worth of over $1 billion is growing. While supporters say the tax money will help benefit public programs, critics believe it will drive high earners to other, more friendly states as they seek to protect the wealth they’ve built.
In November, a number of the California Billionaire Tax Act’s supporters penned a letter to California Attorney General Rob Bonta
“California has around 200 billionaires who collectively possess an astonishing $2 trillion in wealth. These billionaires pay less than 1.5% of their total wealth in annual taxes, including federal, state, and local taxes, according to leading economic estimates—a small fraction of what ordinary Californians pay,” they wrote, arguing that billionaires would “barely notice” the effects of the ballot initiative, and it would not prevent billionaires from continuing to grow their wealth.
“The Service Employees International Union-United Healthcare Workers West, which backs the ballot initiative, said supporters will begin collecting signatures in January after Bonta issued the measure’s official title and summary, clearing the way for it to seek qualification for the November 2026 ballot,” Fox’s report noted.
X users responded to the news:
I’ve always said what will sink CA is when Silicon Valley decides to move out completely.
— BelannF (@BelannF) January 9, 2026
who could’ve predicted this outcome?!
— signüll (@signulll) January 9, 2026
Take as old as time. Problem with socialism is that you eventually run out of other people’s money.
And the problem with Robert Reich is that his shortness has driven him into being a jealous Marxist.
— Chris (@chriswithans) January 10, 2026
Note to self: the wealthy genius successful entrepreneurs are fleeing Gavin Newsom’s car crash leadership.
Because they can afford to!
“AI Overview
Yes, U-Haul data consistently shows California experiencing a significant net outflow of residents, ranking as the state with the… pic.twitter.com/GJOVPiWBtZ
— Steven Gaydos (@HighSierraMan) January 9, 2026
People should stop blaming Newsom for this. He opposes the tax.
All credit goes to Ro Khanna.— Jenny (@jshakov) January 9, 2026
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Sierra Marlee is a millennial whose hunger for the truth in a world of fake news has led her to write. Marlee also contributes to BizPac Review.
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