New Zealand is fast becoming the haven for rich tech investors, as Larry Page, Google’s co-founder, is been granted New Zealand residency.
He applied and was granted residency under a category that requires applicants to invest at least NZ$10m in the country over a three-year period.
Page controversially entered New Zealand in January, when the borders were closed, for a medical emergency involved his son, who had to be evacuated from Fiji.
Page has been in the country since.
“His entry met all the standard conditions of a medical emergency requiring a medical evacuation from the islands, and every requirement and regulation that was in place… was complied with,” Health Minister Andrew Little said in parliament last week.
Page is worth north of $USD116 billion. He is currently a board member and controlling shareholder of Alphabet, after stepping down as CEO in 2019.
Peter Thiel, co-founder of Paypal, has been a citizen of New Zealand since 2011.
