MIAMI, Fla. (Diya TV) — Billionaire tech investor Peter Thiel is opening a new office in Miami for his personal investment firm, Thiel Capital. The move signals a clear effort to strengthen his public and legal ties to Florida as wealthy entrepreneurs reassess where they live and pay taxes.
The announcement came in a press release issued on New Year’s Eve. It said Thiel Capital signed a lease in December 2025 for office space in Miami’s Wynwood neighborhood. The timing matters. Thiel appears to be reinforcing his claim as a Florida resident ahead of potential tax changes in California.
Thiel has expanded his presence in Florida for several years. He bought a mansion in Miami Beach in 2020. His venture capital firm, Founders Fund, opened a Miami office in 2021. State records show he moved his voter registration to Florida in March 2024.
The new office adds another visible step. Legal experts often note that residency disputes depend on actions, not words. Home ownership, voter registration, and business activity can all help establish domicile. In its statement, Thiel Capital said Thiel has maintained a personal residence in Miami since 2020. A spokesperson declined to comment beyond the release.
Thiel’s move comes as California weighs a proposed tax on billionaires. The measure would impose a one-time 5% tax on assets over $1 billion for people who reside in the state on Jan. 1, 2026. Supporters say the tax could raise about $100 billion. They want to use the money to fund health care, food assistance, and education. A health-care workers’ union backs the proposal. Sen. Bernie Sanders endorsed it this week.
The proposal has cleared state certification. It now needs 874,641 signatures to appear on the November 2026 ballot. A state analysis released last week found the tax could raise tens of billions over several years. The same report warned it could reduce long-term revenue if billionaires leave California.
For people like Thiel, residency can mean the difference between a massive tax bill and none at all. Florida does not levy a state income tax. California has some of the highest taxes in the country. Thiel’s net worth stands at $26.5 billion, according to the Bloomberg Billionaires Index. If he remained a California resident, the proposed tax could cost him a 10-figure sum.
The New York Times reported last week that several wealthy California entrepreneurs plan to cut ties with the state before the end of the year. Many want to avoid potential future taxes. Thiel’s New Year’s Eve announcement could help support his claim that he no longer lives in California. The press release emphasized that the lease was signed in December 2025.
Thiel has spoken publicly about leaving California. In a 2024 appearance on “The Joe Rogan Experience” podcast, he said he struggled to decide where to go. He said he debated moving to Florida or leaving the country altogether. He mentioned New Zealand and Costa Rica as options. He added that his indecision kept him in California longer than planned. The Miami office suggests that the debate may now be settled.
California remains home to more billionaires than any other state. Forty-five of the world’s 500 richest people live there, according to Bloomberg. Texas ranks second with 25. New York follows with 21. Californians on Bloomberg’s wealth index hold nearly $1.6 trillion in combined net worth. Lawmakers fear that aggressive taxes could push some of that wealth elsewhere. Florida, Texas, and other low-tax states continue to attract wealthy residents. Miami, in particular, has emerged as a hub for finance, technology, and crypto investors.
The ballot initiative still faces hurdles. Voters will decide its fate in 2026 if it qualifies. Legal challenges could also follow. For now, Thiel’s move sends a clear message. He is building a documented life in Florida. As tax debates intensify, other billionaires may follow the same path. The outcome could reshape where America’s wealth lives—and where it pays taxes.