Zuckerberg ditches California for the free state of Florida

Facebook and Meta founder Mark Zuckerberg has become the latest tech billionaire to ditch California in search of greener pastures and has ended up in Florida. The move from Zuckerberg comes as California is considering a 5 percent tax on the ultra-wealthy in the state.

Zuckerberg and his wife, Priscilla Chan, are purchasing a newly built mansion on Indian Creek, which is one of the most expensive areas in Miami. Zuckerberg has plans to move in by April, sources with knowledge of the move told the Wall Street Journal.

"People like Zuckerberg plan three moves ahead. That billionaire tax chatter has a lot of Palo Alto owners doing real math. If you’re staring at a potential 5% hit tied to net worth, Florida becomes a business decision. And Indian Creek is the clearest signal you’re serious, because it’s built for privacy and control," Troy Dean Home CEO Troy Ippolito told Fox News.

"This is a loud signal that South Florida is a primary market now. When someone at Zuckerberg’s level buys here, it changes buyer psychology overnight," he continued. "If that tax actually moves forward, you’ll see the impact first at the very top, because there’s so little true trophy inventory."

The property is estimated to be between $150 and $200 million based on sales surrounding the home on two acres. The reported seller is an LLC that is linked to Jersey Mike’s Subs founder Peter Cancro. Cancro's sale of the home to Zuckerberg was off the market, which is common for those with that much wealth to do for purposes of privacy. Some of Zuckerberg's neighbors will now include Amazon founder Jeff Bezos, Ivanka Trump and Jared Kushner, Tom Brady, as well as others.

The move comes as there has been a push in California for a one-time 5 percent wealth tax on all of those whose assets exceed $1 billion. The tax would come in 2027 if passed.