Google Founders Reportedly Exit California for Florida
Google co-founders Larry Page and Sergey Brin appear to have officially severed their ties with California. The two tech billionaires have reportedly said goodbye to the Golden State, joining a growing list of wealthy individuals who have relocated their businesses and residences elsewhere.
Massive Miami Purchases Signal the Move
According to a Wall Street Journal report, Larry Page has purchased two substantial Miami estates for a combined total of $173.4 million. People familiar with the situation provided this information. Sergey Brin is also said to be in discussions to buy a home in Miami, according to similar sources.
Larry Page's net worth stands at approximately $270 billion, based on the Bloomberg Billionaires Index. This move places him among the elite group of billionaires exiting California.
Echoes of Jeff Bezos's Relocation Strategy
Some financial analysts see striking similarities between the Google founders' departure and Jeff Bezos's own relocation playbook. They note that the timing, structure, and chosen destination of Page's exit from Silicon Valley closely mirror Bezos's actions.
However, a key difference exists. Jeff Bezos did not leave California. Instead, he departed from Seattle, the city where he founded Amazon as an online bookstore that later grew into a global technology powerhouse.
Jeff Bezos's Seattle Exit and Tax Implications
In 2024, Bezos announced via Instagram that he was leaving Seattle after nearly three decades to move to Miami. He stated his reasons included being closer to his parents and his Blue Origin rocket launches. Seattle had been his home since 1994.
Analysts pointed out another likely factor behind the timing: taxes. Washington state introduced a new 7% capital gains tax in 2022, applying to sales of stocks or bonds exceeding $250,000. Since Washington lacks a personal income tax, this levy represented the first time Bezos faced state taxes on his stock sales.
As CNBC reported, when this tax took effect in 2022, Bezos halted his stock sales. He sold no Amazon shares in 2022 or 2023, gifting only $200 million worth at the end of that period.
After moving to Florida, Bezos reportedly made up for lost time. An SEC filing indicated he launched a pre-scheduled plan to sell 50 million shares before January 31, 2025. Florida imposes no state income tax or capital gains tax. On a $2 billion sale, Bezos saved about $140 million he would have owed Washington state. Over the entire sale of 50 million shares, his savings likely exceeded $600 million.
California's Proposed Billionaire Tax
California faces its own potential tax changes. The Service Employees International Union-United Healthcare Workers West has proposed a ballot initiative to offset federal budget cuts affecting the state's healthcare system. This measure would impose a one-time 5% tax on billionaire assets. It would apply retroactively to those who were California residents as of January 1, 2026.
Other notable figures have also made moves. In December 2025, venture capitalist Peter Thiel announced opening a Miami office for his family investment company. Donald Trump's AI advisor, David Sacks, unveiled a new Austin, Texas office for his venture capital firm, Craft Ventures.
The trend of billionaires and tech leaders leaving high-tax states continues to gain momentum, with significant financial implications for both the individuals and the states involved.
