Zuckerberg Moves to Florida as California Faces Tax Exodus and Business Flight

High-profile relocations highlight growing trend of wealthy individuals and companies leaving California for more business-friendly states like Florida

Published on Feb. 12, 2026

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Mark Zuckerberg's move from California to Miami, Florida is the latest example of a growing trend of wealthy individuals and businesses leaving California for states with lower taxes and more favorable business climates. This shift is driven primarily by California's proposed 5% tax on the ultra-wealthy, which proponents argue is necessary to fund public services but opponents say stifles innovation and drives away capital. Florida's lack of a state income tax and generally pro-business environment are attracting not only individuals but also companies seeking lower operating costs and a more predictable regulatory landscape.

Why it matters

This exodus of wealth and businesses from California could have significant economic consequences for the state, potentially leading to a loss of investment, jobs, and tax revenue. Conversely, Florida is experiencing a surge in capital, talent, and economic growth as it attracts these high-profile relocations. The situation highlights a broader trend of governments that pursue policies perceived as hostile to wealth creation risking losing out to those that offer a more welcoming environment.

The details

The primary driver behind this exodus appears to be California's proposed 5% tax on the ultra-wealthy. While proponents argue this tax is necessary to fund public services, opponents contend it's a punitive measure that stifles innovation and drives away capital. Zuckerberg's move, along with those of other prominent figures like Larry Page, Sergey Brin, Larry Ellison, Peter Thiel, and David Sacks, signals a clear message that excessive taxation can have unintended consequences. Florida, with no state income tax, offers a compelling alternative, and the choice of Indian Creek, Miami – dubbed the 'Billionaire Bunker' – is also noteworthy, as this exclusive enclave offers a high degree of privacy and security, appealing to those seeking to protect their assets and personal lives.

  • Mark Zuckerberg recently moved from California to Miami, Florida.

The players

Mark Zuckerberg

The co-founder and former CEO of Facebook, who has recently relocated from California to Miami, Florida.

Larry Page

The co-founder of Google, who has also left California for a more tax-friendly state.

Sergey Brin

The co-founder of Google, who has followed a similar path as his business partner, Larry Page, in leaving California.

Larry Ellison

The co-founder and former CTO of Oracle, who has joined the exodus from California to Florida.

Peter Thiel

The co-founder of PayPal and an early investor in Facebook, who has also relocated from California to Florida.

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What they’re saying

“We must not let individuals continue to damage private property in San Francisco.”

— Robert Jenkins, San Francisco resident (San Francisco Chronicle)

What’s next

The long-term sustainability of this trend remains to be seen. However, the current momentum suggests that Florida is poised to continue attracting wealth and investment from states like California. Whether other states will follow suit and adopt more business-friendly policies remains an open question.

The takeaway

This case highlights the broader trend of governments that pursue policies perceived as hostile to wealth creation risking losing out to those that offer a more welcoming environment. As California faces a potential loss of investment, jobs, and tax revenue, Florida is experiencing a surge in capital, talent, and economic growth, underscoring the importance of creating a business-friendly climate to retain and attract top talent and businesses.