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As Google co-founder Larry Page and Oracle founder Larry Ellison become some of the latest high-profile Californians to flee, an insider is warning that the “mass migration” of billionaire business leaders out of the state is only going to speed up in 2026.
Silicon Valley tech entrepreneur Allison Huynh told Fox News Digital two “rage bait” tax proposals she believes Democrats are using to get voters to the polls in November could be the final nail in the coffin for California.
Huynh is a startup founder, investor and former fundraiser for former presidents Barack Obama and Joe Biden.
According to Huynh, the two tax proposals, an annual wealth tax proposal and a 2026 Billionaire Tax Act, would cause a “mass migration,” starting with “not just the billionaires, but the people who are investing in new ideas, in new infrastructure, whether it’s AI, healthcare, tech, robotics.”
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Google co-founder Larry Page and Oracle founder Larry Ellison have become some of the latest high-profile California business leaders to divest from the state. (Eric Risberg/AP Photo; AP)
Public filings reviewed by Fox News Digital from the California Secretary of State’s office show several business entities linked to the Google co-founder were moved out of the state in December, ahead of the Jan. 1, 2026 residency date tied to the proposed tax. Those filings indicate his family office, Koop LLC, and his influenza research fund, Flu Lab LLC, no longer list California, while a flying-car venture, One Aero, now lists its primary address in Florida.
Ellison has taken steps that signal a potential pullback from California, though details of a reported $45 million off-market sale of his San Francisco home have not been independently confirmed by major outlets. The New York Post reported the sale and said it would mark the city’s largest real estate…
