T-Rex LLC, linked to Google founders Sergey Brin and Larry Page, moved from California to Delaware in late December. <\/p>\n
The move preceded a proposed California wealth tax targeting residents with assets over $1 billion. <\/p>\n
Page converted his family office from California to Delaware in late December amid tax concerns. <\/p>\n
An entity tied to Google cofounders Sergey Brin and Larry Page moved out of California at the end of 2025, beating the deadline on a proposed wealth tax of the state’s rich and powerful. <\/p>\n
T-Rex LLC, formed in 2006 and linked to Brin and Page<\/a>, converted out of California into a Delaware LLC called T-Rex Holdings on December 24, 2025, according to a California filing reviewed by Business Insider. <\/p>\n Prior filings over the past 20 years listed Brin and Page as managers of the LLC at a Palo Alto address. In the conversion filing, T-Rex Holdings listed an address in Reno, Nevada, as its principal office, with Brin and Page both remaining managers. <\/p>\n Representatives for Brin and Page didn’t respond to requests for comment. <\/p>\n The move comes as California’s wealthiest residents are weighing whether to leave the state. A proposed ballot measure<\/a> would make the roughly 200 California residents whose assets exceed $1 billion pay a one-time 5% tax. If the ballot measure is approved in November, it would take effect retroactively for residents living in California as of January 1, 2026. The measure attempts to address a projected multibillion-dollar state budget deficit. <\/p>\n Earlier this week, Business Insider first reported that Page severed ties with California in late December<\/a> by converting his family office out of the state and incorporating it in Delaware. He has also recently incorporated other entities in Delaware, including a vehicle used to fund influenza research and another used for his flying car ventures. <\/p>\n It’s unclear what the entity tied to Brin and Page does. The filing describes T-Rex Holdings as a “management company.” Like other ultrawealthy executives, Brin and Page have used LLCs as flexible vehicles to hold assets or manage investments, often with little public disclosure. The LLC’s name may be a reference to Stan, a bronze T. rex statue<\/a> that presides over Google’s headquarters in Mountain View, California. <\/p>\n Brin, who cofounded Google with Page in 1998, is associated with several other entities in California, including the Sergey Brin Family Foundation and Bayshore Global Management, which acts as his family office. Filings do not show any other entity associated with Brin leaving California. <\/p>\n Page and Brin are, respectively, the second and fourth-richest people on the planet, according to the Bloomberg Billionaires Index. Each has a net worth exceeding $250 billion. <\/p>\n After stepping back from executive roles in 2019, the two have taken differing paths. Brin has returned to hands-on work at Google<\/a>. Page is a controlling shareholder, but has remained outside the company’s daily operations. <\/p>\n California’s proposed wealth tax <\/p>\n If the proposal receives enough signatures, it will appear on the state ballot in November. If approved by voters, it will apply retroactively to the beginning of the year, meaning those who wish to avoid the tax would need to have been out of the state by the end of December 2025. <\/p>\n California law determines residency based a variety of factors, including time spent in California and any substantial business dealings. <\/p>\n A December 11 letter from celebrity attorney Alex Spiro to California Gov. Gavin Newsom, seen by Business Insider<\/a>, urged the governor to stop the proposed tax: “It will trigger an exodus of capital and innovation from California,” Spiro wrote. “Our clients have made clear they will permanently relocate if subjected to this tax.” <\/p>\n