Mark Zuckerberg buys a mansion in Florida while California evaluates a 5% tax on billionaires

Meta's CEO, Mark Zuckerberg, is moving forward along with his wife, Priscilla Chan, with the purchase of a waterfront mansion in the exclusive enclave of Indian Creek, in South Florida, in a deal that coincides with the debate in California over the possible implementation of a 5% estate tax on billionaires, a category where Zuckerberg would undoubtedly fall.

According to The Wall Street Journal, Zuckerberg and Chan are negotiating and finalizing the acquisition of a newly built property on an island known for housing some of the largest fortunes in the U.S. Although the transaction has not officially closed, neighbors quoted by the newspaper say the entrepreneur plans to move in April, paving the way for a full-time move rather than a vacation home.

If the change of residence materializes, Zuckerberg would join a list of wealthy Californians who have left the Golden State for Florida.

The home, located in one of the Sunshine State's most expensive real estate markets, would be valued between $150 million and $200 million, according to estimates based on comparable sales. The seller is reportedly a company linked to Peter Cancro, founder of the Jersey Mike's chain, who in 2024 sold a majority stake in the company to Blackstone for approximately $8 billion, including debt.

The move comes as California gains visibility for a proposal backed by the Service Employees International Union-United Healthcare Workers West, which seeks to levy a one-time 5% tax on the net worth of residents with assets exceeding $1 billion. Although the initiative still needs to gather some 875,000 signatures to reach the ballot, the mere discussion of the proposal is already generating concern in certain business circles.

In that context, South Florida real estate agents report a growing interest from buyers on the West Coast. "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," real estate executive Troy Ippolito told Fox News.

If Zuckerberg ultimately moves into this mansion, the Meta owner would be moving to a neighborhood where figures such as Jeff Bezos, Tom Brady, Carl Icahn, and Ivanka Trump, among others, already own properties. Indian Creek - an island with restricted access and only a few dozen residences - has established itself as an attractive destination for buyers who prioritize privacy, security and proximity to Florida.

When asked by Fox News after WSJ's report was published, Meta declined to comment: "We do not have a comment on the WSJ reporting from yesterday."