Meta CEO Zuckerberg Buys Mansion in Billionaire Enclave in Florida

Purchase comes amid California's proposed wealth tax, as tech billionaires flee the state

Published on Feb. 10, 2026

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Meta CEO Mark Zuckerberg has purchased a $150-$200 million waterfront mansion on Indian Creek Island in Miami, Florida, also known as "Billionaire Bunker." The move comes as California considers a new wealth tax, prompting an exodus of billionaires from the state.

Why it matters

Zuckerberg's purchase is the latest example of California's wealthiest residents seeking to avoid a potential new state tax on billionaires' assets. This trend could have significant implications for California's tax revenue and the state's ability to fund critical public services.

The details

Zuckerberg's new Florida property is just a few doors down from fellow billionaire Jeff Bezos' home. The 1.84-acre plot was previously sold for $37 million in 2021 to an LLC linked to Jersey Mike's founder Peter Cancro. Satellite images show a large plot with a boat dock and pool overlooking Biscayne Bay. It's unclear if Zuckerberg plans to change his residency to Florida to avoid the proposed California wealth tax.

  • In 2021, the 1.84-acre property was sold for $37 million.
  • In 2026, Zuckerberg reportedly purchased the waterfront mansion for an estimated $150-$200 million.

The players

Mark Zuckerberg

The CEO of Meta (Facebook's parent company) and one of the world's wealthiest individuals.

Jeff Bezos

The founder of Amazon and one of the world's wealthiest individuals, who also owns a home on Indian Creek Island.

Peter Cancro

The founder of the Jersey Mike's sandwich chain, who previously owned the property Zuckerberg purchased.

Gavin Newsom

The Governor of California, who has voiced opposition to the proposed wealth tax and is working to get it killed.

Chamath Palihapitiya

A venture capitalist who leads Social Capital and has commented on the decline in California's taxable wealth from billionaires.

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What they’re saying

“These were all people that were paying 13%+ in state income tax every year WITH NO COMPLAINTS UNTIL A FEW WEEKS AGO. And now, for the rest of time, the lost tax revenues from these folks will have to be paid for by the middle class because they are the only group left in California large enough that you can tax to fill the hole.”

— Chamath Palihapitiya, Venture Capitalist (X)

What’s next

It remains to be seen whether the proposed California wealth tax will ultimately be enacted, and if so, how it will impact the state's tax revenue and the ongoing exodus of billionaires from the state.

The takeaway

Zuckerberg's purchase of a lavish Florida mansion highlights the growing trend of California's wealthiest residents seeking to avoid potential new taxes, which could have significant implications for the state's fiscal health and ability to fund critical public services.