Larry Page's $170M Florida Move Amid California Tax Threat

The first major acquisition was a sprawling 4.5-acre compound in Miami's Coconut Grove, purchased for $101.5 million in December 2025. According to Miami-Dade County property records, the property was previously owned by the late restaurateur Jonathan Lewis.

In January 2026, a trust linked to Page acquired a second property just less than a mile away for $71.9 million. The trust, named Tropical Frontier Revocable Trust, lists Florida attorney Benjamin Babcock and Mary McFadden Quisenberry as trustees.

Quisenberry serves as the chief operating officer of Rosewood Family Advisors, a Palo Alto-based firm that provided tax and accounting services for Page's family foundation in 2024. The connection highlights the sophisticated financial planning behind these high-value transactions.

Page has also filed to move several of his businesses from California to Delaware, Florida, and Texas, further cementing his departure from the Golden State.

California's proposed Billionaire Tax Act would impose a one-time 5% tax on residents with a net worth exceeding $1 billion. The bill, which is not scheduled to appear on the ballot until November, would retroactively tax billionaires living in California as of January 1, 2026.

With a reported net worth of $269 billion as of January, according to Forbes, Page stands to face significant tax liability if the legislation passes. By establishing residency in Florida before the year's start, he positions himself outside the tax's reach.

Florida offers a stark contrast to California's tax environment, with no state income tax and no estate tax. This financial advantage has long attracted retirees, but now increasingly draws tech entrepreneurs and investors.

California's dominating the high end of the market. The market right now, in terms of offers and active buyers, has a huge California presence, and it's directly related to 5% net worth.

Page's move is part of a larger pattern of wealth migration from California to Florida. Real estate professionals report a significant uptick in high-end transactions involving Californian buyers.

Danny Hertzberg of The Jills Zeder Group, an agent involved in the $101.5 million transaction, noted the trend began in early December and accelerated through the end of the year. He emphasized that these are not investment properties but primary residences where buyers are putting down roots.

Amazon founder Jeff Bezos has also made headlines for his Florida relocation, building a compound on the exclusive island of Indian Creek in Miami's Biscayne Bay. This movement of tech titans is reshaping the region's economic profile.

South Florida has been rebranding as the 'Silicon Valley of the East' since the early 2020s, attracting tech and finance professionals. The arrival of billionaires like Page and Bezos lends credibility to this transformation.

The influx of ultrawealthy individuals is accelerating Miami's emergence as a global hub for finance and technology. Experts believe this trend has serious legs and could fundamentally alter perceptions of South Florida.

With the caliber of people acquiring properties and planning to relocate, Miami is already being positioned as one of the premier destinations for industries like finance and tech. The city's business landscape is poised for elevation on a national and international scale.

The movement represents more than a temporary shift; it signals a potential long-term realignment of economic power and influence toward the Southeast coast.

I think that may push along an already strong existing trend as Miami emerges as a major destination for finance and tech.

Larry Page's strategic relocation to Florida underscores the growing tension between state tax policies and billionaire mobility. As California considers its Billionaire Tax Act, the movement of wealth to tax-friendly states like Florida appears to be accelerating.

The $173.4 million in combined property purchases by Page represents more than a personal real estate decision—it signals a potential shift in the economic geography of American wealth. Miami's rise as a hub for finance and technology is being fueled by this influx of capital and talent.

For California, the challenge is balancing revenue needs against the risk of driving away its wealthiest residents. For Florida, the influx promises economic growth but also raises questions about housing affordability and infrastructure strain.

As the November ballot approaches, all eyes will be on whether California's proposed tax becomes law, and how many more billionaires might follow Page's lead in drawing their line in the sand on a Florida beach.