Zuckerberg Follows Billionaire Exodus To Florida As California Pushes New Wealth Tax
Once again, the pattern is familiar: raise taxes in California, and watch the private jets head east.
Mark Zuckerberg may soon be adding Miami to his ever-growing list of luxury addresses. According to people familiar with his plans, the Meta founder and his wife, Priscilla Chan, are exploring a home on Indian Creek Island—an ultra-exclusive, heavily guarded neighborhood often called “Billionaire Bunker”, according to Bloomberg.
The tiny island is already packed with famous residents, including Jeff Bezos, Tom Brady, Jared Kushner, and Ivanka Trump.
With an estimated fortune north of $200 billion, Zuckerberg already owns multiple properties across California, Hawaii, Washington, D.C., and near Lake Tahoe. It’s not clear whether Florida would replace any of those homes or just become another stop on his real estate tour.
But the timing is telling. Bloomberg writes that California is considering a new wealth tax aimed at billionaires, including taxes on unrealized gains. The proposal has rattled investors and helped push several tech leaders out of the state. When Democratic policies start biting, it seems many billionaires suddenly “fall in love” with Florida.
Chamath Palihapitiya wrote ...
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