Google co-founder Larry Page has made a significant move by purchasing two massive estates in Miami's Coconut Grove area. The total cost for these properties exceeds $170 million. This purchase marks his exit from California, where he previously resided.
Details of the Florida Purchase
According to property records, Page began his relocation process in December 2025. He first acquired a 4.5-acre compound for $101.5 million. Then, in January, he bought a second property less than a mile away for an additional $71.9 million. He made this second purchase through his Tropical Frontier Revocable Trust.
Timing with California's Proposed Wealth Tax
Page's move comes at a critical time for California. The state is preparing to vote on a "Billionaire Tax" act. This proposed legislation would impose a 5% one-time tax on billionaires. If approved in November 2026, the tax would apply retroactively to residents as of January 1, 2026.
Legal experts have warned Governor Gavin Newsom about potential consequences. They say this wealth tax proposal could trigger an exodus of capital and innovation from California. Page's departure appears to support this concern.
Business Entities Also Relocate
Reports indicate that Page didn't just move his residence. He also transferred several of his business entities out of California. These entities have been relocated to Delaware, Florida, and Texas. This strategic shift mirrors actions taken by other technology leaders.
Other Tech Billionaires Making Similar Moves
Larry Page isn't the first technology mogul to leave California recently. Amazon founder Jeff Bezos recently built his own high-security compound in Miami's Biscayne Bay. These moves suggest a growing trend among ultra-high-net-worth individuals.
Sergey Brin's Recent Actions
Earlier this month, reports surfaced about Google's other co-founder. Sergey Brin shifted an entity tied to him out of California. T-Rex LLC, formed in 2006 and long managed from Palo Alto, converted into a Delaware-based company called T-Rex Holdings on December 24, 2025.
However, Brin maintains connections to California through various entities. These include the Sergey Brin Family Foundation and Bayshore Global Management. His situation differs somewhat from Page's complete relocation.
Why Billionaires Are Leaving California
The proposed wealth tax represents just one factor in this migration. High taxes, regulatory environments, and lifestyle preferences all play roles. Florida offers no state income tax, which appeals to wealthy individuals seeking to preserve their fortunes.
Miami's tropical coastline provides an attractive alternative to California living. The area has become increasingly popular among technology executives and investors in recent years.
This trend of billionaires relocating could have significant economic implications. States like Florida and Texas stand to gain investment and talent, while California faces potential losses in tax revenue and innovation leadership.
