Google co-founder Larry Page bought two beachfront homes in Miami's Coconut Grove area for around $173 million, reported Fortune.
Page joins a wave of California-based billionaires relocating to Florida before a possible state wealth tax.
Page acquired the two properties in transactions completed during the final days of 2025 and the opening days of 2026. One home sold for around $101.5 million and features more than a dozen bedrooms, over 15 bathrooms, with direct waterfront access. The second property went for approximately $71.9 million.
Page's real estate shopping follows a pattern set by Amazon founder Jeff Bezos, who moved to Miami in 2023. Bezos bought several properties in Indian Creek Village, known as the "Billionaire Bunker," to create his Florida compound. Those purchases totaled roughly $237 million over about nine months.
The tech billionaires traded their higher-tax home states for Florida, which imposes no income tax at the state level.
Page's exit comes as California looks at a 5% yearly tax targeting the global wealth of billionaire residents. The proposed tax would hit anyone who lived in California on January 1, 2026.
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Projections indicate Page, who ranks as the planet's second-wealthiest person, might owe about $10 billion under the plan. He's been moving his investment office and business operations out of California to Delaware and Florida.
The environmental toll of these luxury waterfront estates is steep. Massive beachfront compounds consume huge amounts of energy for heating, cooling, and maintaining multiple buildings across sprawling properties. Private docks accommodate yachts that burn thousands of gallons of fuel per trip. The carbon impact of billionaire lifestyles, from private aviation to running several homes simultaneously, dwarfs that of average Americans.
Wealthy California residents are reorganizing their finances or planning departures before the tax vote. Tech executive Palmer Luckey issued a warning about the measure, saying it would force company founders into selling equity stakes to satisfy the tax bill, calling it "fraud, waste, and political favors for the organizations pushing this ballot initiative.
Some billionaires are staying put. Nvidia CEO Jensen Huang said he's "perfectly fine" with the wealth tax and will continue living in California.
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