Google founders Sergey Brin and Larry Page have relocated their business entity from California to Delaware amid concerns over a proposed billionaire tax in the state.
Google founders Sergey Brin and Larry Page are making headlines as they transition their business entity out of California. According to a recent filing reviewed by Business Insider, T-Rex LLC, which was established in 2006 and is associated with Brin and Page, has officially converted to a Delaware LLC named T-Rex Holdings as of December 24, 2025.
This move comes at a time when California’s wealthiest residents are contemplating their future in the state. A proposed ballot measure aims to impose a one-time 5% tax on individuals whose assets exceed $1 billion. This initiative has sparked discussions among high-net-worth individuals regarding the potential implications of remaining in California.
The conversion of T-Rex LLC into a Delaware entity is a legal maneuver that allows companies to change their state of incorporation or registration. Delaware is often favored for its business-friendly laws and corporate flexibility. By relocating to Delaware, T-Rex Holdings can benefit from established legal frameworks, efficient corporate courts, and potentially more favorable regulatory and tax conditions.
While the conversion itself does not necessarily indicate immediate operational changes, analysts suggest that the timing is significant in light of California’s proposed wealth tax. If the ballot measure is approved in November, it would retroactively affect residents living in California as of January 1, 2026.
Business and legal experts emphasize that converting an LLC to a Delaware entity can be part of a long-term strategy for estate, tax, and asset management, particularly for affluent individuals with complex financial portfolios. The situation surrounding T-Rex illustrates the intersection of corporate law, wealth management, and strategic planning among influential figures in the tech industry.
The proposed California billionaire’s tax is designed to target the state’s ultra-wealthy residents. Under this initiative, individuals with assets exceeding $1 billion would be required to pay a 5% tax on the value of their holdings above that threshold. Proponents argue that the tax would generate revenue for essential state programs, including housing, education, and healthcare, while addressing issues of inequality.
However, critics caution that such a tax could prompt high-net-worth individuals to relocate or restructure their assets to evade taxation, potentially diminishing investment in California. The T-Rex LLC conversion exemplifies the broader challenges that states encounter when attempting to tax extreme wealth. Policies aimed at affluent individuals often provoke strategic responses, highlighting the complex relationship between financial planning, corporate law, and public policy.
Wealth taxes have the potential to provide substantial revenue for social programs, but their effectiveness hinges on careful implementation and enforcement, as well as the behavior of those impacted. The California billionaire’s tax initiative further emphasizes the delicate balance between raising revenue and maintaining a competitive business environment.
While supporters view the tax as a necessary tool to combat inequality and fund vital services, opponents express concerns over possible unintended consequences, including capital flight or decreased economic activity. Ultimately, cases like T-Rex Holdings illustrate that the implementation of taxes on extreme wealth requires a nuanced approach that considers fiscal objectives alongside legal, economic, and strategic factors.
As the debate surrounding the proposed billionaire tax continues, the decisions made by prominent figures like Brin and Page may influence the broader conversation about wealth, taxation, and the future of California as a hub for innovation and investment, according to Business Insider.