Zuckerberg finds a new home in Florida and will become neighbors with Ivanka

Meta founder Mark Zuckerberg has decided to leave California and purchase property on Indian Creek Island in Miami, Florida. Behind this decision are complex political and economic considerations. Interestingly, this move has made him neighbors with former President Donald Trump’s eldest daughter Ivanka, and the two top wealthy families will share sunshine, beaches, and financial freedom in the same ultra-private community.

California Wealth Tax Policy as a “Trigger”

California politicians are pushing a wealth tax proposal called the “2026 Billionaire Tax Act,” led and supported by the Service Employees International Union-Western Healthcare Workers. The proposal aims to impose a one-time 5% wealth tax on residents with net worth over $1 billion, due in 2027, payable over five years.

According to the proposal, anyone who remains a California resident on January 1, 2026, will be liable for this tax. The initiative aims to fund healthcare, education, and food assistance programs, potentially generating hundreds of billions of dollars for California to offset federal funding cuts. Although the proposal has not yet gathered the approximately 875,000 signatures needed to qualify for the November ballot, it has already sparked strong reactions among Silicon Valley elites.

The California Legislative Analyst’s Office clarified that the tax would target assets such as stocks, bonds, art, collectibles, and intellectual property, but exclude real estate, pensions, and retirement accounts. Reports indicate that since the proposal surfaced, several billionaires have moved assets worth trillions of dollars out of California, significantly shrinking the potential tax base.

$150 Million to $200 Million Beachfront Mansion Deal

According to The Wall Street Journal, Zuckerberg and his wife Priscilla Chan are purchasing a newly built beachfront mansion on Indian Creek Island, valued between $150 million and $200 million. Sources say the nearly 2-acre property is expected to be officially completed in the first half of this year, indicating that this purchase is not just a vacation home but a sign that Zuckerberg is relocating his primary residence to Florida.

The mansion, located across Biscayne Bay, features a private dock, wraparound terraces, waterfront pool, lush gardens, and blue shutters. Aerial views showcase a design that combines ultimate luxury with privacy.

The seller is reportedly a limited liability company associated with Peter Kankro, founder of Jersey Mike’s Subs. Kankro sold most of his stake in 2024 for $8 billion (including debt) to Blackstone Group. Such transactions among ultra-rich individuals are typically conducted privately to maximize buyer privacy.

Indian Creek Island Attracts Ivanka, Bezos, and Other Tech Billionaires

Indian Creek Island is one of South Florida’s most expensive residential areas, with about 41 homes and a strictly controlled entrance guarded by private security patrolling on land and water around the clock. Known as the “Billionaire Bunker,” it attracts numerous ultra-rich residents.

Real estate expert Troy Ippolito said, “It’s just minutes from downtown Miami but feels extremely secluded. If you’re an internationally known figure seeking a truly private ‘backyard,’ this is the ideal place.” He emphasized that the community’s design prioritizes privacy and control, making it highly attractive to low-profile billionaires.

Zuckerberg’s upcoming neighbors include Ivanka Trump and Jared Kushner, as well as Jeff Bezos, NFL star Tom Brady, financier Carl Icahn, musician Julio Iglesias, DJ David Guetta, and other notable figures. With Zuckerberg joining, the “Billionaire Bunker” will further strengthen its influence in tech and business, becoming a gathering spot for top global elites.

Silicon Valley Giants Flee California

Zuckerberg is not alone. Many Silicon Valley billionaires are leaving California, including Google co-founders Larry Page and Sergey Brin, Oracle founder Larry Ellison, venture capitalist Peter Thiel, and David Sacks. They have either moved or plan to move their primary residences to South Florida, fueling a continuous outflow of talent and capital.

Industry insiders point out that this migration wave is closely linked to California’s proposed wealth tax policies. Once implemented, these policies will significantly increase tax burdens on ultra-high-net-worth individuals, prompting many to plan for the future.

Why Florida Is the “New Silicon Valley”

Florida has become the top choice for these Silicon Valley elites mainly because of its unique policy environment. First, Florida has no state income tax, meaning residents do not pay additional state taxes on top of federal taxes. Second, the state’s tax policies are relatively clear and predictable, with fewer regulatory hurdles, creating a more business-friendly environment. Lastly, the lifestyle here is more relaxed and convenient, attracting many high-net-worth individuals seeking quality living.

Real estate expert Ippolito added, “Many buyers feel California treats them as ‘targets,’ while Florida makes them feel like part of the community. Compared to California, Florida feels more stable and welcoming.”

Analysis suggests Zuckerberg already owns multiple properties in Palo Alto, Lake Tahoe, and Kauai, but his official residence has remained in California. His purchase in Florida likely indicates he will change his official registered address to Florida to avoid California’s wealth tax. This move is both a rational economic decision and a preemptive strategy for future tax policies.