Florida’s tax climate and lifestyle continue drawing high earning residents from California
Miami, Florida – Mark Zuckerberg might soon leave Silicon Valley’s busy streets for the peaceful, safe shores of South Florida. A report by NS ARROW says that the Meta CEO and his wife, Priscilla Chan, are getting ready to move to Indian Creek Island, which is home to one of the most famous tech leaders in the world. This is happening as Florida’s economy and culture continue to change because of migration.
The private area, which is also called the “Billionaire Bunker,” has already attracted a lot of rich people, and Zuckerberg’s arrival would deepen that trend.
Florida’s pull has been getting stronger for years. The lack of a state income tax, relatively light regulation, warm weather, and growing financial and technology networks have all helped to attract wealthy people away from states like California, New York, and Illinois.
After 2020, things certainly started to pick up. South Florida started to get nicknames like “Wall Street South,” which showed that hedge-fund managers, venture capitalists, and tech founders were moving there and setting up shop along the coast.
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Zuckerberg’s alleged purchase, which is said to be worth between $150 million and $200 million, would put him next to people like Jeff Bezos, Ivanka Trump, and Carl Icahn.
Market observers say that the official documentation hasn’t been made public yet, but several reports say that negotiations are still going on and that the move is planned for the spring of 2026. The decision also comes at a time when California lawmakers are talking about a possible wealth tax on fortunes over $1 billion. This idea has unsettled portions of the ultra-wealthy population.
He wouldn’t be coming alone in spirit. Since 2022, a number of billionaires have either moved to Florida or made it their main home. Bezos shifted from Washington in 2023, citing personal history in Miami and the state’s tax climate.
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Ken Griffin, the founder of Citadel, moved the company’s headquarters from Chicago to Miami. This made Florida look like a good place for big companies to set up shop. Stephen Ross, a real estate developer, has spoken up the area’s economic attraction. At the same time, tech leaders like Larry Page, Sergey Brin, Peter Thiel, Larry Ellison, and Eric Schmidt have all bought property or set up businesses in South Florida.
Palantir moved its headquarters to Miami in early 2026, and Wells Fargo moved its wealth management division to West Palm Beach the same month. These are examples of how business decisions are similar to personal ones. Palm Beach County alone has recorded more than 140 company expansions or relocations within five years.
The size is made clear by migration data. In 2024, more than 55,000 high-earning workers came to South Florida, with median incomes exceeding six figures. This is a much higher income level than people who moved within the state.
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Real estate values have climbed alongside the influx, and the number of billionaires counted in Palm Beach has risen from the low-forties in 2020 to more than fifty today. Supporters say that the new people bring jobs, donations, and investment money that spread across local economies.
But the change comes with certain problems. Rising property prices have intensified affordability concerns for long-time residents, while rapid development strains transportation, utilities, and coastal infrastructure. Critics say that concentrated wealth could lead to further inequality, while supporters say that the change shows Florida’s competitive edge.
If Zuckerberg finishes his relocation, the address may not be as important as the symbolism. If another big name from Silicon Valley moved to Florida, it would add to the feeling that American wealth is still moving about geographically.
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This is happening because of taxes, lifestyle, and the hunt for power in a changing economy. It may rely on policy arguments that are happening far away from the shore whether that wave keeps going, but for now, the tide is definitely going south.
