Billionaire Tax Dodges: How Google’s Founders Are Legally Evasion-Proofing Their Fortunes

Google’s co-founders are legally evading California’s billion-dollar wealth tax—using shell companies and superyachts as shields.

The restructuring of their assets highlights the practical mechanics of tax avoidance strategies in response to the state’s proposed one-time 5% wealth tax on individuals with $1B+ net worth.

Sergey Brin terminated or converted 15 Nevada-based LLCs overseeing investments—including a superyacht and airport terminal stake—in December 2023.

Larry Page similarly moved 45 California LLCs out of state or into inactive status, while a Page-associated trust acquired a $71.9M Miami mansion. The New York Times links these moves to California’s retroactive tax, which applies to individuals with $1B+ net worth as of January 1, 2024.

Though both founders retain California properties, the LLC restructurings suggest a deliberate effort to minimize exposure.

Legal experts note that such conversions allow assets to be shielded from retroactive taxation by reclassifying ownership structures before the tax’s effective date.