Billionaire Larry Page Relocates Assets Amid Proposed California Wealth Tax

Google co-founder Larry Page has moved several business entities out of California following a proposed ballot measure that would levy a five percent tax on billionaires.The 52-year-old billionaire transferred his family office and research firms to states like Delaware, Florida, and Nevada to avoid the tax on his estimated $270 billion fortune.Revenue from the proposed measure, which targets residents with net worths exceeding $1 billion, is intended to fund healthcare for low-income residents and state education.