Google Co-founder Larry Page has quietly — or loudly — joined the exodus of billionaires out of California and moved his operations east, spending about $173 million on two ultra-luxury oceanfront mansions in Miami’s Coconut Grove, a move that bears a striking resemblance to Jeff Bezos’ relocation strategy. The timing, structure, and destination of Page’s escape from Silicon Valley and his pivot to Florida seem downright Bezosian.
At the end of December and early January, wall street journal reportPage then snapped up two neighboring estates in Miami’s Coconut Grove neighborhood, buying one oceanfront compound for about $101.5 million and another for $71.9 million in off-market transactions, for a total outlay of about $173.4 million. One of the homes, previously listed for $135 million, has 13 bedrooms and 15.5 bathrooms and sits directly on the water, while the second was purchased from an heiress Sloan Lindemann Barnett and her husband, Roger Barnett, have nearly doubled their net worth in less than five years.
The purchasing factory page is right inside One of Miami’s most exclusive enclavesIt has long been favored by the global elite seeking privacy, access to water and understated luxury. Local brokers say his much-publicized move is part of a wave of high-net-worth Californians looking to Coconut Grove and other South Florida communities as they hedge against looming tax changes while upgrading to luxury oceanfront properties. Buying real estate can serve as both a luxury getaway and a massive tax-saving tool, with Page being the most prominent. California’s super-rich are leaving the state Lawmakers are targeting wealth like his with a push for wealth taxes.
Sever ties with California
Behind the Real Estate Headlines, Page has been methodically severing his financial and legal ties The proposal comes before California imposes a wealth tax on residents worth more than $1 billion. Regulatory filings show he has moved his family office and several investment and holding entities out of the state, business insider reportreintegrate key vehicles in Delaware and list a new business address in Florida.
new york times reported before Page has been telling colleagues that he is considering Florida because of a proposed ballot measure that would impose a 5% annual tax on the global assets of billionaires living in California. If the tax were passed and applied retroactively to residents starting Jan. 1, 2026, analysts estimate Page could pay the following costs:Current ranking As the second richest man in the world——well over $10 billion.
Some Silicon Valley executives, notably Anduril’s Palmer Luckey, warned that such an outcome was possible, saying in late December that the founders would have to sell some shares of the company to pay for “fraud, waste and political favors provided to the organizations pushing this ballot initiative.” California Rep. Ro Khanna responded era” Report says Page and Peter Thiel are planning to leave Mark this story with an X And sarcastically, in the style of President Franklin Delano Roosevelt: “I’m going to miss them terribly.”
Bezosian blueprint
The silhouette of Page’s escape from California closely mirrors Jeff Bezos’ high-profile move from Seattle to Miamiall the way to a selection of ultra-exclusive waterfront communities and quick acquisitions. Bezos announced in 2023 that he would move to Miami after decades in Washington state, then quickly built a compound in South Florida. Buy multiple properties In the village of Indian Creek—the so-called "billionaire bunkerIt was reported that total savings were approximately $237 million over nine months, with an estimated $1 billion in tax savings.
Both billionaires have taken advantage of Florida’s free state income tax, more wealth-friendly treatment and lifestyle appeal to relocate their empires away from higher-tax, tech-heavy coastal centers. Their actions also help solidify Miami evolves into parallel center of power In technology and finance, the migration of capital and management talent that began during the pandemic has accelerated.
For a high-net-worth individual like Page, such a move could save tens or even hundreds of millions of dollars over time compared to continuing to live in California. For billionaires, transferring residence before the new rules take effect could serve as an immediate, self-funded tax overhaul.
Billionaire’s Escape Mode
According to recent reports, Page’s retreat from California comes as at least six ultra-rich individuals have either left the state or restructured their assets in anticipation of a possible wealth tax — with notable exceptions NVIDIA CEO Jen-Hsun Huang insists he “no problem at all“A wealth tax is planned to stay in California. Supporters of the measure argue that tapping billionaire wealth is necessary to shore up funding for programs like health care and education, while critics warn that an aggressive asset tax would simply push the wealthiest residents and their investment dollars elsewhere.
This shift has been part of the reshaping of Miami in the 2020s, with hedge funds, cryptocurrency players and tech executives flocking to the city. By now following Bezos’s model – trading a California zip code for a fortress-like compound in Miami – the message to other ultra-rich founders is clear: There’s a ready-made exit playbook if the tax landscape shifts.
For this story, wealth Journalists use generative AI as a research tool. Editors verified information for accuracy before publication.