Celebrities and billionaires are now packing up and leaving their Hollywood mansions for Indian Creek — aka the “Billionaire Bunker,” located in the Sunshine State.
Indian Creek earned the nickname “Billionaire Bunker” after the community which consists of billionaires and celebrities such as Tom Brady, Jeff Bezos, Jared Kushner and most recently, Mark Zuckerberg.
Indian Creek is a 300 acre island located in Miami-Dade County featuring over 50 waterfront homes, a private country club and a private police force. The community is known for its exclusive privacy and security where homes are hidden by beautiful landscapes.
In 2021, Indian Creek was known for being the most expensive district in the United States. Recently, many of the world’s wealthiest people are buying South Florida homes, fueling the region’s real estate market.
Tech billionaires that made the “Billionaire Bunker”
Brokerverse recently covered Meta founder, Mark Zuckerburg, and his wife Priscilla Chan’s, recent purchase of a home in one of Miami Beach’s secluded communities in Indian Creek. But he isn’t the only billionaire moving to the state.
Google co-founder Larry Page recently purchased a property located in Coconut Grove worth over $170 million. Another co-founder of Google, Sergey Brin, has purchased a home on Allison Island, located in Miami Beach. CEO and co-founder of cryptocurrency platform Coinbase, Bryan Armstrong and his wife, are on the hunt for a home in South Florida.
Reasons for the migration
But why are celebrities leaving their beautiful homes in Hollywood for the ones in South Florida? One reason is a proposed tax in California might be the reason that’s driving billionaires and celebrities out of the state. If passed, the one-time 5% wealth tax would be imposed on California residents who are worth $1 billion or more.
Another reason is that Florida has no state income tax, meaning celebrities and billionaires are saving a lot of money on taxes. Also, Florida features neighborhoods with exclusive living options and privacy.
Miami-based broker takes
Broker-associate Nathan Zeder, who works for the leading luxury brokerage Jills Zeder Group located in Miami-Dade County, noted his schedule has been filled due to the increasing demand for Miami real estate.
Zeder also states that people can expect to see more “exceptionally wealthy” people from California and New York to Florida.
Billionaires like Ken Griffin and Stephen Ross encouraged more billionaires to move to Florida as the state’s growth in culture, economy, and businesses. In 2022, Griffin, who is also the CEO and founder of the company Citadel, moved his company from New York to Miami.
