Sergey Brin and Larry Page appear to be reducing their presence in the country where they founded Google.
The New York Times reported that in December, 15 limited liability companies overseeing Brin’s investments and interests. terminated or converted into a Nevada entity. This includes an LLC that manages one of the superyachts and an interest in a private terminal at San Jose International Airport.
In addition, 45 LLCs associated with Page recently became inactive or moved out of state, and a trust associated with Page purchased a $71.9 million mansion in Miami this week, according to the NYT.
Clearly, moving is not simple, black and white for the rich, and Brin and Page still have homes in the country, the NYT said. However, the move suggests that at least two California billionaires are hoping to avoid it candidate selection steps which will impose a one-time, 5% tax on individuals worth more than $1 billion.
If the measure goes on the ballot in November and actually passes, it will apply retroactively to anyone who has lived in the state since January 1 of this year.