Meta CEO Mark Zuckerberg has purchased a waterfront mansion in Miami's exclusive "Billionaire Bunker" on Indian Creek, joining a growing number of California billionaires moving to Florida amid tax concerns.
Zuckerberg is the latest high-profile tech leader to relocate, following the footsteps of others like Jeff Bezos, Tom Brady, and Peter Thiel.
The move comes as California continues to push a 5% wealth tax on its ultra-wealthy residents. Florida, on the other hand, has no state income tax, making it an attractive destination for those looking to reduce their tax burden.
Zuckerberg's purchase of a massive waterfront property in the exclusive Indian Creek community, known as the "Billionaire Bunker," further solidifies the trend of Silicon Valley's elite flocking to the Sunshine State.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.