Sergey Brin and Larry Page—the co-founders who built Google in a Menlo Park garage in 1998—are pulling out of California. In December 2025, Brin moved 15 investment LLCs to Nevada, while Page inactivated 45 California LLCs and purchased $173 million in Miami real estate. The timing matters: California voters decide in November 2026 on a proposed 5% wealth tax targeting billionaires, retroactive to January 1, 2026. With combined net worths exceeding $518 billion, both founders faced potential tax bills measured in billions. They moved just in time.
When the founders who built Silicon Valley’s most iconic company abandon their home base, it’s not just another billionaire tax dodge. It’s California’s “canary in the coal mine” moment. If Google’s founders won’t stay, who will?
California’s $27 Billion Mistake
The California Billionaire Tax Act would impose a one-time 5% tax on total wealth for anyone worth $1+ billion. That’s $13 billion for Brin ($259B net worth) and $14 billion for Page ($279B)—$27 billion combined. The Service Employees International Union designed it with a trap: retroactive to January 1, 2026, specifically to prevent exactly what happened.
But Brin and Page aren’t stupid. They restructured in December 2025, before the cutoff. Brin terminated or converted 15 LLCs managing his investments—including superyachts and his San Jose International Airport stake—to Nevada entities. Meanwhile, Page inactivated 45 California LLCs and bought two Miami waterfront properties totaling $173 million.
This is California’s desperation play. The state faces a $50-70 billion deficit in 2025-2026, down from a $97 billion surplus in 2021-2022. Rather than fix the underlying problems—13.3% income tax (highest in the nation), unaffordable housing, regulatory burden—they’re doubling down with a wealth tax that guarantees billionaire flight.
Berkeley economists warn in their expert report that departures could cost “hundreds of millions of dollars or more per year” in lost income tax revenue. California’s top 1% paid 39% of state income tax in 2022. When they leave, that revenue goes with them. California isn’t just eating its golden goose—it’s serving it on a platter to Nevada and Florida.
They’re Not Alone in the Tech Exodus
Brin and Page are the most symbolic departures, but they’re far from the first. California saw net emigration exceeding 200,000 people in 2024-2025. Major tech companies relocated: Tesla to Austin, Oracle to Austin, Hewlett Packard Enterprise to Houston, Palantir to Denver. Even non-tech giants left—Chevron to Houston, In-N-Out Burger to Tennessee.
The billionaire exodus started years ago. Elon Musk moved to Texas in 2021, taking Tesla and SpaceX headquarters with him. Peter Thiel established Miami residence in 2020. Keith Rabois and David Sacks followed to Miami in 2020-2021. Now the Google founders—the founders who built Google, the company that symbolized Silicon Valley’s dominance—are joining them.
The numbers tell the story: California’s share of US tech employment fell to 15.9%, the lowest since 2013, down from 20%+ at peak. That’s not a rounding error. That’s a fundamental shift in tech’s geographic center.
Nevada and Miami Win Big
Brin chose Nevada—zero income tax, business-friendly LLC laws, and a one-hour flight from California. Page chose Miami—zero income tax, zero estate tax, and a booming tech scene that attracted Thiel, Rabois, and Founders Fund. Both calculated correctly: pay nothing to Nevada/Florida, or pay billions to California. The math is simple.
Texas is also winning. Austin’s tech economy is projected to contribute over $200 billion to the state by 2025. Tech jobs grew 30%+ since 2020. Oracle, HPE, and Tesla all chose Texas for their headquarters. And with zero income tax, developers earning $200K save $26,600 annually compared to California—enough for a down payment on an actual house, which Austin still has (unlike San Francisco).
For developers, remote work makes these moves viable. Work for a San Francisco company from Austin, save 13.3% on taxes, cut living costs 40-50%, and actually afford housing. Even with a 20% salary adjustment, you come out ahead. The Silicon Valley “prestige premium” is evaporating.
What Happens Next for California
The November 2026 ballot vote is California’s inflection point. If the wealth tax passes, expect accelerated exodus. Berkeley economists project massive revenue losses as billionaires flee. If it fails, the trend continues anyway—California’s 13.3% income tax and $3000+ rent for a 1-bedroom apartment remain.
Even Governor Gavin Newsom—a progressive Democrat—is actively coordinating efforts to defeat the wealth tax. He understands the risk: drive away the wealthy, lose their income tax revenue, enter a budget death spiral. But his party’s activist wing wants to “make billionaires pay.” The November vote will determine whether California chooses pragmatism or ideology.
Either way, the multi-hub model is permanent. Silicon Valley won’t disappear—it still has the densest network of talent, VCs, and startups. But it’s no longer the only option, or even the best option for many developers. Austin has tech density. Miami has finance crossover. Denver has quality of life. And all three have significantly lower costs than California.
The Message for Developers
When Google’s founders leave California, the message is clear: the state’s tax policies are unsustainable. This isn’t about greedy billionaires (though Brin and Page will certainly save billions). It’s about California creating an environment where even the people who built its tech empire no longer want to stay.
For developers considering their next move, the calculus is straightforward:
- Early career: Silicon Valley still offers the densest network and fastest learning curve. The short-term cost might be worth it.
- Mid-career onwards: Texas, Florida, and Colorado offer better financial outcomes. Remote work for SF companies is now normalized. You can have the salary without the pain.
- Founders: Consider Texas or Florida from day one. Easier to raise funding remotely now, and you’ll save millions in future tax bills.
Silicon Valley isn’t dead. But when the founders who launched Google in a Menlo Park garage in 1998 abandon California 28 years later, the symbolism is inescapable. California failed the tech industry it helped create. The exodus is real, and it’s accelerating.
