Meta CEO Mark Zuckerberg is reportedly the latest California billionaire to secure a primary residence in Florida as Golden State lawmakers weigh a massive wealth tax. Zuckerberg is under contract to purchase a waterfront estate on Miami’s exclusive Indian Creek Island, known as the “Billionaire Bunker.” Sources close to the deal indicate that the Facebook founder plans to move into the nearly 2-acre property by April.
The move comes as California activists push the “2026 Billionaire Tax Act” for the November ballot. If approved, the measure would impose a one-time 5% tax on the worldwide net worth of any resident worth over $1 billion as of January 1, 2026. For Zuckerberg, whose net worth is estimated at over $200 billion, the tax bill could exceed $10 billion.
“People like Zuckerberg plan three moves ahead,” Troy Dean Home CEO Troy Ippolito told Fox News Digital. He noted that the tax chatter has many Palo Alto owners doing “real math” on the cost of staying. Ippolito argued that for the ultra-wealthy, moving to Florida has become a practical business decision rather than a lifestyle choice.
The off-market deal is estimated to be worth between $150 million and $200 million. The seller is reportedly an LLC tied to Peter Cancro, the founder of Jersey Mike’s Subs. Cancro developed the property after cashing out a majority stake in his sandwich empire to Blackstone for $8 billion last year.
Zuckerberg joins a growing list of tech titans who have abandoned the West Coast for South Florida in recent months. Google co-founders Larry Page and Sergey Brin have both made significant real estate purchases in the Miami area. Venture capitalist Peter Thiel also recently solidified his Florida residency by opening a new investment office in Miami on New Year’s Eve.
Florida real estate agents report a “fresh wave” of interest from California residents seeking to establish residency before the proposed tax thresholds take effect. “Florida feels predictable,” Ippolito said, contrasting it with California’s aggressive tax environment. He noted that many high-net-worth buyers feel that California treats them like a target while Florida treats them like they belong.
The Indian Creek enclave is one of the most secure and private islands in the United States. It features its own police force, a 24/7 marine patrol, and a single guarded bridge for access. Zuckerberg’s new neighbors will include Jeff Bezos, Tom Brady, and Ivanka Trump.