Mark Zuckerberg Purchases $150M Miami Mansion, Joins Bezos in Billionaire Bunker

Mark Zuckerberg, the founder of Meta Platforms, is reportedly acquiring a lavish waterfront mansion in Miami’s exclusive Indian Creek area. This gated community is often referred to as the “billionaire bunker” due to its high-profile residents and robust security measures, including armed police protection. The property is currently owned by a limited liability company affiliated with Peter Cancro, founder of Jersey Mike’s Subs, and is being sold for between $150 million and $200 million.

Zuckerberg Joins the Elite in Miami

The new mansion covers 1.84 acres and is located near Amazon founder Jeff Bezos’ sprawling estate. Zuckerberg’s neighbors include other notable figures such as sports icon Tom Brady, billionaire investor Carl Icahn, and celebrity couple David and Victoria Beckham. “We’re happy to have him,” said Irman Braman, spouse of local businessman Norman Braman, as reported by the Wall Street Journal.

Reasons Behind the Move

Zuckerberg’s decision to invest in Miami may be influenced by a proposed wealth tax in California that threatens to drive billionaires away from the state. A healthcare workers’ union has suggested a one-time 5% tax on California residents with a net worth exceeding $1 billion, expected to raise approximately $100 billion for public schools and food assistance programs.

• The tax would potentially affect 246 billionaires in California.
• Zuckerberg could owe around $12 billion based on his net worth of $239 billion.
• Property taxes would not be included in this new levy.

The Trend Among Billionaires

Mark Zuckerberg is not alone in this migration. Google co-founder Larry Page has also made headlines by purchasing Miami properties totaling $171 million to preemptively shield his assets from potential tax implications. In December, Page acquired a property in Coconut Grove for $101.5 million, previously owned by late restaurateur Jonathan Lewis, and later bought another property nearby for $71.9 million.

This trend among wealthy Californians highlights a growing concern regarding the proposed tax. Prominent figures, including Palantir co-founder Peter Thiel and Anduril co-founder Palmer Luckey, have voiced strong opposition against the proposal. There is a widespread belief that this wealth tax may trigger an exodus of affluent individuals from California.

As the situation develops, it remains to be seen how these wealthy individuals will navigate the changing financial landscape and what impact it will have on California’s economy.