Google cofounder Larry Page has quietly—or loudly—joined the billionaire exodus from California, shifting businesses east and dropping about $173 million on two ultra-luxury waterfront mansions in Miami’s Coconut Grove in a move that looks strikingly similar to Jeff Bezos’ relocation playbook. The timing, structure, and destination of Page’s escape from Silicon Valley make his Florida pivot look downright Bezos-ian.
In late December and early January, The Wall Street Journal reported, Page snapped up two neighboring estates in Miami’s Coconut Grove, paying roughly $101.5 million for one waterfront compound and $71.9 million for another in an off‑market deal, for a combined outlay of about $173.4 million. One of the homes, previously listed for $135 million, spans 13 bedrooms and 15.5 bathrooms and sits directly on the water, while the second, bought from heiress Sloan Lindemann Barnett and her husband Roger Barnett, nearly doubled in value in less than five years.
The purchases plant Page squarely inside one of Miami’s most exclusive enclaves, long favored by global elites seeking privacy, water access, and low‑key luxury. Local brokers say his splashy entry is part of a broader surge of high‑net‑worth Californians scouting Coconut Grove and other South Florida neighborhoods as they hedge against looming tax changes while upgrading to trophy waterfront properties. The real-estate purchases double as both a luxury retreat and a massive tax‑savings vehicle, with Page the most prominent of California’s ultrawealthy choosing to leave as state lawmakers are targeting fortunes like his with an aggressive wealth‑tax push.
Cutting ties with California
Behind the real-estate headlines, Page has been methodically severing his financial and legal ties to California ahead of a proposed wealth tax that targets 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 reported, reincorporating key vehicles in Delaware and listing new business addresses in Florida.
The New York Times previously reported Page had been telling associates he was considering Florida specifically because of a proposed ballot measure that would impose a 5% annual levy on the worldwide assets of billionaires domiciled in California. If passed and applied retroactively to residents as of Jan. 1, 2026, analysts estimate the tax could cost Page—currently ranked as the world’s second‑richest person—well over $10 billion.
Some Silicon Valley executives, notably Anduril’s Palmer Luckey, warned such an outcome was possible, saying in late December founders would have to sell off parts of their companies to pay for “fraud, waste, and political favors for the organizations pushing this ballot initiative.” California Rep. Ro Khanna responded to the Times‘ reporting that Page and Peter Thiel were looking to leave by flagging the story on X and saying, seemingly sarcastically in the style of President Franklin Delano Roosevelt, “I will miss them very much.”
A Bezos‑style blueprint
The contours of Page’s escape from California closely mirror Jeff Bezos’ own high‑profile shift from Seattle to Miami, right down to the choice of ultra‑exclusive waterfront neighborhoods and rapid‑fire acquisitions. Bezos announced in 2023 he would relocate to Miami after decades in Washington state, then quickly assembled a South Florida compound by buying multiple estates in Indian Creek Village—the so-called “Billionaire Bunker”—for a reported total of around $237 million within nine months, saving an estimated $1 billion in taxes as he did so.
Both billionaires have leveraged Florida’s lack of state income tax, friendlier treatment of wealth, and lifestyle appeal as they reposition personal empires away from higher‑tax, tech‑heavy coastal hubs. Their moves have also helped cement Miami’s evolution into a parallel power center for technology and finance, accelerating a migration of capital and executive talent that began in earnest during the pandemic.
For high‑net‑worth individuals like Page, such a move could save tens or even hundreds of millions of dollars over time compared with remaining a California resident. For a centibillionaire, shifting domicile before new rules take effect can function like an instant, self‑funded tax reform.
Billionaire escape pattern
Page’s retreat from California comes as at least a half‑dozen ultra‑wealthy residents either leave the state or restructure assets in anticipation of a potential wealth tax, according to recent reports—with the notable exception of Nvidia CEO Jensen Huang, who insists he’s “perfectly fine” with a wealth tax and plans to stay in California. Advocates for the measure argue tapping billionaire fortunes is necessary to shore up funding for programs like health care and education, while critics warn aggressive asset‑based taxes will simply drive the richest residents—and their investment dollars—elsewhere.
That shift is already part of the 2020s-era reshaping of Miami, which has seen an influx of hedge funds, crypto players, and tech executives. With Page now following the Bezos model—trading a California ZIP code for a fortress‑like Miami compound—the message to fellow ultra‑rich founders is clear: If the tax climate turns, there is a ready‑made playbook for leaving.
For this story, Fortune journalists used generative AI as a research tool. An editor verified the accuracy of the information before publishing.
