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Billionaires Exit California: Zuckerberg Buys $200M Miami Mansion

2/15/2026

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Zuckerberg Buys Mansion

Meta CEO Mark Zuckerberg purchased a mansion in Miami's Indian Creek Island for between $150 million and $200 million.
This reflects a pattern of billionaires leaving California due to a proposed 5% tax on total assets.
Governor Gavin Newsom opposes the tax, citing concerns about its impact.
Venture capitalist Chamath Palihapitiya says California's billionaire wealth fell from over $2 trillion to under $1 trillion, warning the middle class may pay.

Left

Regan Proposes Billionaire Tax

The California billionaire tax proposal, led by Dave Regan of SEIU-United Healthcare Workers West, aims to raise $100 billion over five years.
It addresses a funding gap created by federal cuts to state medical programs.
Critics, including Governor Gavin Newsom, warn the plan could drive wealthy residents away, noting billionaire relocations.
Supporters say the measure addresses wealth inequality and have endorsements from multiple unions and political figures.

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Zuckerberg Buys Mansion

Meta CEO Mark Zuckerberg purchased a mansion in Miami's Indian Creek Island for between $150 million and $200 million.
This reflects a pattern of billionaires leaving California due to a proposed 5% tax on total assets.
Governor Gavin Newsom opposes the tax, citing concerns about its impact.
Venture capitalist Chamath Palihapitiya says California's billionaire wealth fell from over $2 trillion to under $1 trillion, warning the middle class may pay.

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