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Meta CEO Mark Zuckerberg is the latest California billionaire heading for Florida, snapping up a massive waterfront mansion in Miami’s exclusive “Billionaire Bunker,” as Golden State lawmakers push a proposed 5% tax on the ultra-wealthy.
Zuckerberg and his wife, Priscilla Chan, are buying a newly built mansion on Indian Creek, one of the area’s most expensive enclaves. The deal has not been confirmed as closed, sources with knowledge of the transaction told The Wall Street Journal, but neighbors said Zuckerberg plans to move in by April — signaling a relocation rather than a vacation home.
“People like Zuckerberg plan three moves ahead. That billionaire tax chatter has a lot of Palo Alto owners doing real math. If you’re staring at a potential 5% hit tied to net worth, Florida becomes a business decision. And Indian Creek is the clearest signal you’re serious, because it’s built for privacy and control,” Troy Dean Home CEO Troy Ippolito told Fox News Digital in reaction.
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“This is a loud signal that South Florida is a primary market now. When someone at Zuckerberg’s level buys here, it changes buyer psychology overnight,” he continued. “If that tax actually moves forward, you’ll see the impact first at the very top, because there’s so little true trophy inventory.”
The nearly 2-acre property is estimated to be worth $150 million to $200 million, based on comparable sales, and the reported seller is a limited liability company tied to Jersey Mike’s Subs founder Peter Cancro.
Cancro cashed out big in 2024 when he sold a majority stake in Jersey Mike’s to Blackstone for $8 billion, including debt. His home sale to Zuckerberg was off-market, a common move for ultra-wealthy buyers seeking privacy.
Aerial views of the property show that it sits across Biscayne Bay and features a private dock, wraparound terraces, lush landscaping, a waterfront pool, charming blue shutters and other elaborate amenities. The estate joins Zuckerberg’s already extensive real estate portfolio in places like Lake Tahoe and Palo Alto in California, and Kauai, Hawaii.
“It’s one entrance, tightly controlled, and only about 41 homes. You’re minutes from Miami, but it feels isolated. If you’re a global name, and you want a truly private backyard, this is as close as it gets,” Ippolito said.
Meta did not immediately respond to Fox News Digital’s request for confirmation or comment.
Some of Zuckerberg’s new neighbors on Indian Creek include Jeff Bezos, Tom Brady, Carl Icahn, Ivanka Trump and Jared Kushner, David Guetta, Julio Iglesias, Jaime Gilinski and Edward Lampert.
Zuckerberg’s move comes on the heels of other notable, longtime California-based billionaires who have solidified residency in South Florida in response to a proposed California wealth tax.
Though the initiative has not yet received the required 875,000 signatures to qualify for the November ballot, the proposal — backed by the Service Employees International Union–United Healthcare Workers West — would impose a one-time 5% tax on the net worth of California residents with assets exceeding $1 billion.
The tax would be due in 2027, and taxpayers could spread payments over five years, with additional costs, according to the California Legislative Analyst’s Office.
If voters approve the measure, anyone who was a California resident on Jan. 1, 2026, would owe the tax, according to the proposal’s language.
Many South Florida real estate agents have told Fox News Digital that since the new year, a fresh wave of buyer interest has flooded in from California, with increased calls and broker website traffic.
“There’s a few other very big founders and also tech giants and also venture capitalist firms, the heads of which I’ve also moved here,” luxury real estate broker Julian Johnston of The Corcoran Group previously said. “It was always a layover, one night, an event, but Miami’s changed a lot in the last 10 years. It’s culturally more interesting… They said they were quite happy to move here and then see what happens in the next few years.”
“One client said, ‘You know, this could be like a $5 billion tax for me,’” he recalled. “So they’re moving because of that.”
“Florida feels predictable. You have a clearer tax picture, fewer hurdles, and a much easier day-to-day,” Ippolito weighed in. “A lot of buyers feel like California treats them like a target. Florida treats them like they belong here.”
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