By Kurt Wagner, Bloomberg
Billionaire Meta Platforms Inc. founder Mark Zuckerberg is planning to buy a property in the Miami area, according to a person familiar with the matter, joining a roster of ultra-wealthy individuals expanding their footprints in South Florida.
Zuckerberg and his wife, Priscilla Chan, are looking at purchasing a property on Indian Creek, a man-made island in Biscayne Bay known as Billionaires Bunker, the person said. Residents of the ultra-secure enclave include Jared Kushner and Ivanka Trump, Jeff Bezos, Carl Icahn and Tom Brady.
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With a net worth of about $240 billion, according to the Bloomberg Billionaires Index, Zuckerberg owns two homes in California — in Palo Alto and near Lake Tahoe — and others in Hawaii and Washington, DC. It was unclear whether Zuckerberg’s plans to purchase in Florida would represent a change in residence or an addition to his real estate portfolio.
The potential purchase comes as California debates a proposed one-time wealth tax on billionaires that would apply to unrealized gains, a measure that has stirred concern among investors and business leaders across the state. Several billionaires, including Peter Thiel and David Sacks, have left California in the face of the proposal.
A Meta spokesperson declined to comment. The Wall Street Journal earlier reported on Zuckerberg’s purchase of a Florida home.
South Florida has continued to attract wealthy technology executives from California. In recent weeks, Google’s co-founders have both made purchases in the area. Larry Page bought three homes in Miami’s Coconut Grove neighborhood for a combined total of nearly $190 million, while Sergey Brin reportedly is purchasing a roughly $50 million home on Biscayne Bay.
Indian Creek, which has a large golf course in the middle of the island, has become one of the most exclusive enclaves in South Florida with tight security limiting access to residents and invited guests.
Zuckerberg has grown closer to President Donald Trump in his second term, and has visited Trump’s Mar-a-Lago club in Palm Beach — about 70 miles north of Miami — on multiple occasions.
The union-backed ballot measure in California, which still has to gather enough signatures to qualify for the November ballot, calls for a one-time 5% tax on those with more than $1 billion in net worth to cover funding shortfalls for health care, education and food assistance.
The proposal has helped galvanize a new pro-business political effort backed by some of the industry’s wealthiest figures. A group called Building a Better California, supported by donors including Brin and former Google chief executive Eric Schmidt, has raised about $35 million.
–With assistance from Anna J Kaiser, Daniel Cancel and Felipe Marques.
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