Larry Page, the Google co-founder and world’s second-richest person, has reportedly left California as momentum builds behind a proposed wealth tax targeting billionaires, The Telegraph reports.

Page has shifted the registrations of several key entities — including his family office and a flying-car venture — from California to Delaware, according to state filings.

He has also personally relocated out of California ahead of a potential statewide vote on a wealth tax. Page told friends last month he was considering a move to Florida.

The proposed measure would impose a one-time 5% tax on individuals with assets exceeding $1 billion.

Supporters, including a healthcare labor union, are pushing to place the proposal on the ballot during November’s midterm elections and are currently gathering signatures.

California law allows voters to approve ballot initiatives even if they face opposition from state leaders.

Gov. Gavin Newsom, a Democrat widely viewed as a potential 2028 presidential contender, has opposed a wealth tax, and its chances of passage remain uncertain.

Notably, the proposal would apply retroactively from Jan. 1, 2026, meaning residents would have needed to leave the state by the end of last year to avoid the tax.

Page, who co-founded Google in 1998, has an estimated net worth of $270 billion, making him the world’s second-richest individual. A 5% levy could cost him roughly $13.5 billion.

Companies that fled California late last year include Koop, Page’s family office; Flu Lab, which funds influenza vaccine research; and One Aero, a shell company that has financed his flying-car projects.

Flu Lab was contacted for comment, while Page and the other companies could not be reached.

California has already seen other prominent billionaires depart.

Elon Musk, the world’s richest person, moved from California to Texas in 2020. Venture capitalist Peter Thiel has also reportedly considered leaving the state.

Others, however, have expressed little concern. Nvidia CEO Jensen Huang, now the world’s ninth-richest person, said this week he would accept a wealth tax if imposed.

“We chose to live in Silicon Valley, and whatever taxes they’d like to apply, so be it,” Huang said. “I’m perfectly fine with it. It never crossed my mind once.”