Miami has emerged as the new tax haven for the affluent elite of Silicon Valley and Wall Street. During the first half of 2026, Miami-Dade witnessed 24 property transactions exceeding $30 million—nearly double the amount from the prior year and surpassing the 17 deals closed in New York in the same timeframe, according to data from Analytics Miami reported by Bloomberg. The primary driver behind this surge is tax avoidance: Florida imposes no state income tax or capital gains tax.
Most of these high-value properties were purchased outright. The record for annual transactions in this price range is 33, set in 2025; by contrast, there were only two such sales in 2019. Below are the key figures in this luxurious exodus.
The Big Names Behind the Miami Real Estate Boom
Mark Zuckerberg and Priscilla Chan: The Meta founder along with his wife made headlines on March 2 by purchasing the most expensive property in Miami-Dade history—a mansion under construction on Indian Creek Island, known as the "Billionaire Bunker," for $170 million. Initially listed at $200 million, the estate features nine bedrooms, 30,000 square feet, a 1,500-gallon aquarium, and a library with a secret passage.
Jeff Bezos: The Amazon founder has acquired three properties on the same island at prices of $68 million (2022), $79 million (2023), and approximately $90 million (2024), totaling over $230 million. He aims to combine these parcels into a sprawling 6.4-acre mega-complex.
Larry Page (Google): The Google co-founder purchased two adjacent properties in Coconut Grove for $101.5 million and $71.9 million between December 2025 and January 2026, alongside a third valued at $14.97 million in the same month. His investments exceed $188 million. According to a Fortune report on billionaire tax migration, Page left California before January 1 to dodge the state's proposed billionaire tax.
Sergey Brin (Google): The other Google co-founder spent $51 million on a modern 10,000-square-foot mansion on Allison Island, close to Miami Beach. The property boasts seven bedrooms, a private dock, and views of Biscayne Bay. Brin also contributed $102 million to a group campaigning against California's billionaire tax.
Howard Schultz (former Starbucks CEO): After 44 years in Seattle, Schultz revealed his relocation to Miami in March 2026, just days after paying $44 million for a penthouse at the Four Seasons Private Residences at the Surf Club in Surfside, offering 5,500 square feet of interior space and a 4,100-square-foot terrace. Washington State enacted a 9.9% tax on incomes over $1 million that same month.
Ken Griffin (Citadel): The hedge fund mogul was a trailblazer in this migration, having paid $106.9 million in 2022 for a Coconut Grove complex spanning four acres with 400 feet of waterfront. He also plans to construct a 54-story global headquarters in the Brickell district, estimated to cost around $2.5 billion.
Peter Thiel (PayPal / Palantir): In 2020, Thiel purchased a two-home complex on Venetian Islands for $18 million, with his total real estate investments in the area nearing $40 million. In February 2026, Palantir announced the relocation of its corporate headquarters to Miami.
Larry Ellison (Oracle) — Palm Beach: Although not in Miami, Ellison resides in Manalapan, Palm Beach County. In 2022, he acquired an estate for $173 million featuring over thirty bedrooms and approximately 16 acres stretching from ocean to lake, declared as his primary residence in 2023.
The Exclusive Enclave of Indian Creek Island
Indian Creek Island, home to only 41 residences, boasts its own police force and a club membership fee of $500,000. Among its elite residents are Tom Brady, Ivanka Trump and Jared Kushner, and Carl Icahn. "The level of tech wealth is in a different stratosphere. There are such elite players now," remarked Dina Goldentayer, an agent with Douglas Elliman.
For the average citizen, the situation is quite different: the 30-year mortgage rate surpassed 7% in September, and the median price for a single-family home in Miami-Dade is now at $680,000, according to MIAMI Realtors.
Frequently Asked Questions about Miami's Real Estate Market
Why are billionaires moving to Miami?
Billionaires are attracted to Miami due to its favorable tax environment, which includes no state income tax and no capital gains tax. The city also offers luxurious real estate and a desirable climate.
What are some of the most expensive properties in Miami?
Some of the most expensive properties in Miami include Mark Zuckerberg's $170 million mansion on Indian Creek Island and Jeff Bezos's properties on the same island, totaling over $230 million.