MIAMI, FL \u2014 Meta CEO Mark Zuckerberg is one of the latest billionaires flocking to South Florida, amidst wealth taxes proposed in West Coast states, after last month\u2019s closing on a $170 million waterfront estate on an island appropriately dubbed \u201cBillionaire Bunker.\u201d<\/p>\n
The 2-acre Indian Creek property, at 7 Indian Creek Island Road, was not only easily the most expensive home sold in the U.S. in March, but the most expensive home ever sold in Miami-Dade County, according to a new report from RedFin<\/a>.<\/p>\n Indian Creek, a village located on a man-made barrier island off Miami Beach in Biscayne Bay, has always been a magnet for the ultra wealthy. <\/p>\n Miami already has the highest concentration of millionaires and billionaires per capita in the U.S., based on data from a study from global advisory firm Henley & Partners<\/a>, Miami New Times reported<\/a>. About 6.7 percent or 38,800 of Miami residents \u2014 including those in Coral Gables and Miami Beach \u2014 hold millionaire status, while 180 are centi-millionaires and 17 are billionaires, including several of the richest people in the world. <\/p>\n After West Coast states have proposed wealth taxes on its richest residents, even more of the super rich are swapping out their hoodies for flip-flops. <\/p>\n In California, a so-called \u201cbillionaire tax\u201d was proposed by a union representing health care workers in California. And Washington enacted a 9.9 percent tax \u2014 dubbed the \u201cmillionaires\u2019 tax\u201d \u2014 on personal income over $1 million with collections beginning in 2029.<\/p>\n In addition to Zuckerberg, former Starbucks CEO Howard Schulz last announced on the same day Washington\u2019s House passed the new tax that he would be retiring to the Miami area, the Morning Brew said<\/a>. <\/p>\n See Also: <\/p>\n He reportedly dropped $44 million on a Surfside penthouse, just directly across the bay from Indian Creek.<\/p>\n Google co-founder Larry Page, spent $188 million on several properties earlier this year to assemble a waterfront estate in Miami\u2019s Coconut Grove neighborhood, the New York Post reported<\/a>.<\/p>\n Another Google co-founder, Sergey Brin, is also buying a $50 million oceanfront home on Miami Beach\u2019s Allison Island, the Post said earlier this month<\/a>.<\/p>\n Billionaires Ken Griffin and Stephen Ross, who already call the Sunshine State home, recently launched a $10 million initiative called Ambition Accelerated geared toward convincing CEOs and high-level business leaders to relocate to South Florida, the Tampa Bay Times reported<\/a>.<\/p>\n Companies are also moving their corporate headquarters to Florida in droves. <\/p>\n In January, D-Wave announced its move from Palo Alto to Boca Raton with plans to build a major research and development hub at the Boca Raton Innovation campus, according to Refresh Miami<\/a>. Florida Atlantic University also signed a $20 million deal with the company to install one of its Advantage2 annealing quantum computers on campus. <\/p>\n Software company Palantir, which was founded in Palo Alto, posted to X<\/a> in February that it moved its headquarters from Denver to Miami. Its co-founder, Peter Thiel, also relocated to the area, CNBC said<\/a>.<\/p>\n And earlier this year, Wells Fargo became the first major bank to move its operations headquarters to Florida, relocating to West Palm Beach, Fox Business News said<\/a>. <\/p>\n \u201cA lot of people are coming here for tax efficiency, and as a result of that the ecosystem has really matured here in South Florida,\u201d Anthony De Yurre<\/a>, a partner at Miami-based law firm Bilzin Sumberg, told MarketWatch<\/a>. <\/p>\n The executives moving to Florida tend to have their \u201cown center of gravity,\u201d as employees and families relocate with them, De Yurre added.<\/p>\n","protected":false},"excerpt":{"rendered":"MIAMI, FL \u2014 Meta CEO Mark Zuckerberg is one of the latest billionaires flocking to South Florida, amidst…\n","protected":false},"author":2,"featured_media":235769,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[225,227,226],"class_list":["post-235768","post","type-post","status-publish","format-standard","has-post-thumbnail","category-hialeah","tag-hialeah","tag-hialeah-headlines","tag-hialeah-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/235768","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/comments?post=235768"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/235768\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/235769"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=235768"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=235768"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=235768"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}