Google founders Larry Page and Sergey Brin quietly began unwinding portions of their financial empires in California in the days leading up to Christmas, according to corporate filings reviewed by The New York Times, as progressive lawmakers consider a proposed billionaire wealth tax. This development confirms our earlier note that California is on an accelerated path toward self-destruction.

Here are the new details from NYT's report that further confirm our previous reporting:

In the 10 days before Christmas, an entity connected to Mr. Brin, 52, terminated or moved 15 California limited liability companies that oversee some of his business interests and investments out of the state, according to documents seen by The New York Times. Seven of the companies — including those that appear to manage one of Mr. Brin's superyachts and his interest in a private air terminal at San Jose's international airport — were converted into Nevada entities.