Google's co-founders, Sergey Brin and Larry Page, are seemingly reducing their California presence by restructuring or relocating numerous LLCs to states like Nevada, potentially to avoid a proposed 5% wealth tax on billionaires. These actions, involving entities managing assets like superyachts and private airport interests, signal a possible shift in the tech industry's geographic center, though both founders still maintain California residences. The potential tax implications and the founders' moves highlight the ongoing debate surrounding wealth distribution and taxation policies in innovation hubs.
Google's co-founders, Sergey Brin and Larry Page, are seemingly reducing their California presence by restructuring or relocating numerous LLCs to states like Nevada, potentially to avoid a proposed 5% wealth tax on billionaires. These actions, involving entities managing assets like superyachts and private airport interests, signal a possible shift in the tech industry's geographic center, though both founders still maintain California residences. The potential tax implications and the founders' moves highlight the ongoing debate surrounding wealth distribution and taxation policies in innovation hubs.