Sergey Brin and Larry Page Relocate LLC Amid Proposed California Wealth Tax

In recent developments, T-Rex LLC, associated with Google cofounders Sergey Brin and Larry Page, has relocated to Delaware. This move comes in response to a proposed wealth tax in California targeting the state’s wealthiest residents. On December 24, 2025, T-Rex LLC transitioned to T-Rex Holdings, as recorded in a California filing.

Details of the Relocation

T-Rex Holdings now lists its primary office in Reno, Nevada. Despite the change in location, both Brin and Page continue as managers of the entity. The LLC was previously registered at a Palo Alto address for over 20 years.

Proposed California Wealth Tax

• Tax rate: 5% one-time tax for residents with assets over $1 billion.
• Eligibility: Approximately 200 individuals within California.
• Effective date: Proposed to be retroactive from January 1, 2026.
• Objective: To address California’s multibillion-dollar budget deficit.

The proposed tax’s backers believe it will generate substantial revenue, while critics warn it may drive wealthy residents to consider relocating. A letter from attorney Alex Spiro to Governor Gavin Newsom cautioned against the tax, arguing it could lead to significant capital flight from the state.

Background of Sergey Brin and Larry Page

Brin and Page are recognized as the second and fourth richest individuals globally, with net worths exceeding $250 billion each, according to the Bloomberg Billionaires Index. After stepping back from their executive roles in 2019, the two have taken different paths. Brin has become more involved in Google again, while Page remains outside the day-to-day operations.

As part of their financial strategies, both founders have utilized LLCs to manage investments with minimal public oversight. The transition of T-Rex to T-Rex Holdings may signal their intent to navigate potential tax burdens more effectively.

Current and Future Implications

With the proposed wealth tax looming, other wealthy Californians are evaluating their residency options. If approved, the measure would apply to anyone considered a resident by California law—a situation that encompasses time spent in the state and substantial business engagements.

The upcoming ballot in November will be crucial for determining if this wealth tax becomes a reality. The outcome could significantly influence the decisions of wealthy individuals regarding their residency in California.