Zuckerberg Joins Billionaire Exodus from California to Miami's 'Billionaire Bunker'

High-net-worth individuals flee high-tax states like California for Florida's tax-friendly environment.

Published on Feb. 10, 2026

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Mark Zuckerberg's recent $30 million purchase of a waterfront estate on Miami's exclusive Indian Creek Island is the latest example of a growing trend of billionaires relocating from high-tax states like California to more tax-friendly Florida. This 'billionaire migration' is being driven by factors like California's high state income tax rates, property taxes, and capital gains taxes, as well as concerns over potential federal wealth taxes. Beyond tax savings, the move also offers lifestyle benefits and a way to 'future-proof' wealth by diversifying geographic holdings.

Why it matters

The exodus of billionaires and other high-net-worth individuals from California to Florida highlights the impact of tax policies on the decisions of the ultra-wealthy. It also raises questions about wealth inequality, the feasibility of wealth taxes, and the broader economic implications as states compete to attract the world's richest people.

The details

Zuckerberg's new Miami estate on Indian Creek Island, dubbed the 'Billionaire Bunker,' offers unparalleled security and exclusivity. The 1.8-acre property includes multiple buildings and a waterfront location. This move follows Zuckerberg's earlier investments in Hawaii, signaling a broader strategy of geographic diversification. Data shows a net loss of over $48 billion in adjusted gross income from those who moved out of California between 2020 and 2022, driven by the state's high income tax rates, property taxes, and capital gains taxes. In contrast, Florida's zero state income tax and lower cost of living make it an attractive destination.

  • Zuckerberg purchased the $30 million Miami estate in 2026.
  • Between 2020 and 2022, California saw a net loss of over $48 billion in adjusted gross income from those who moved out of the state.

The players

Mark Zuckerberg

The co-founder and former CEO of Facebook, who recently purchased a $30 million waterfront estate on Miami's exclusive Indian Creek Island.

Indian Creek Island

A private, gated community in Miami that is frequently referred to as the 'Billionaire Bunker' due to its high-security and exclusivity, attracting many of the world's wealthiest individuals.

David Tepper

The founder of Appaloosa Management, who relocated his hedge fund headquarters from New York to Charlotte, North Carolina in 2021, citing lower taxes and a more favorable business environment.

Franchise Tax Board

The California state agency that collects personal income tax and corporate tax, and provided data showing a net loss of over $48 billion in adjusted gross income from those who moved out of the state between 2020 and 2022.

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What they’re saying

“Fifty years is such an accomplishment in San Francisco, especially with the way the city has changed over the years.”

— Gordon Edgar, grocery employee (Instagram)

What’s next

As the debate over a potential federal wealth tax continues, it is likely that more high-net-worth individuals will consider relocating to tax-friendly states like Florida to mitigate their tax liabilities. The impact on the luxury real estate market in these destinations is expected to continue, potentially leading to concerns about affordability.

The takeaway

The billionaire migration from high-tax states like California to low-tax Florida highlights the significant influence of tax policies on the financial decisions of the ultra-wealthy. This trend raises important questions about wealth inequality, the feasibility of wealth taxes, and the broader economic implications as states compete to attract the world's richest people.