Jeff Bezos, Mark Zuckerberg, Sergey Brin, Larry Page and more: Tech billionaires are flocking to America's second-most expensive metro area and it's not California or New York

Neither New York nor California, Miami was recently ranked as the second-most expensive metro area in the US metro area, reports Bloomberg. Tech billionaires such as Mark Zuckerberg, Larry Page, and Sergey Brin have all recently purchased homes in the city.

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Miami is the new home for America's tech billionaires

An increasing number of tech billionaires, venture capitalists and startup founders are choosing Miami, Florida, over traditional business hubs. While Florida's lack of a state income tax is often mentioned as a key reason, many of these executives say the decision goes beyond saving money.


From better weather to a thriving business ecosystem and quality of life, several high-profile names have publicly explained why Miami has become their preferred destination.

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Jeff Bezos moved to Florida to be closer to family

Amazon founder Jeff Bezos announced in 2023 that he was leaving Seattle after nearly three decades and relocating to Miami. Sharing the news on Instagram, Bezos said family played a major role in the decision.

"I've lived in Seattle longer than I've lived anywhere else and have so many amazing memories here. As exciting as the move is, it's an emotional decision for me."

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He added: "My parents have always been my biggest supporters. They recently moved back to Miami, where we lived when I was younger. I want to be close to my parents."

Bezos also said the move would place him closer to Blue Origin's operations at Cape Canaveral. "Also, Blue Origin's operations are increasingly shifting to Cape Canaveral." The billionaire described the move as the beginning of an exciting new chapter.

Mark Zuckerberg has expanded his presence in South Florida

Meta CEO Mark Zuckerberg has not officially relocated to Miami, but he has steadily increased his ties to South Florida.

The billionaire has spent significant time in the region, enjoying boating, watersports and training activities. His growing presence has fueled speculation that Florida is becoming an increasingly important base for some of the world's richest tech executives.

Zuckerberg has also purchased luxury property in Florida, joining a broader migration of wealthy business leaders exploring opportunities outside traditional technology hubs.

Google founders Larry Page and Sergey Brin have deep roots in South Florida

Google co-founders Larry Page and Sergey Brin are also among the technology billionaires with major investments in South Florida.

Both have purchased waterfront properties in the Miami area, reflecting the region's growing popularity among Silicon Valley's wealthiest entrepreneurs.

While neither has publicly announced a permanent relocation, their real estate investments highlight Miami's increasing appeal to tech leaders seeking a combination of luxury living, privacy and business opportunities.

Keith Rabois says Miami is a better place to build companies

Venture capitalist Keith Rabois, one of Silicon Valley's best-known investors, became one of Miami's earliest high-profile technology transplants. Explaining his move, Rabois said Florida offered an environment that encouraged entrepreneurship.

"Miami is one of the fastest-growing tech hubs in the country."

He has repeatedly argued that founders benefit from being surrounded by ambitious entrepreneurs while enjoying a better quality of life than many traditional technology centers. Rabois has also pointed to Florida's business-friendly policies as a competitive advantage.

David Blumberg says Miami has become a magnet for entrepreneurs

Venture capitalist David Blumberg has also spoken about Miami's rapid transformation. According to Blumberg, the city is attracting investors, founders and talented professionals at an unprecedented pace.

He believes Miami is evolving into a serious destination for technology startups rather than simply a vacation city.

A business-friendly environment is drawing wealthy founders

Luxury homebuilder Manny Varas, who has built and renovated homes for billionaire clients including Jennifer Lopez, Lil Wayne and the Bezos family, says lifestyle is often the deciding factor.

According to Varas: "You can't beat the lifestyle." He added that Miami's appeal extends beyond taxes.

"Pro-work and creative environment," along with the city's culinary, hospitality, arts and events scene, are among the biggest reasons billionaires continue choosing South Florida over other low-tax states.

Why Miami is attracting more billionaires

Several factors have helped transform Miami into one of America's fastest-growing billionaire hubs. These include:

No state income tax in Florida.
Year-round warm weather.
Expanding technology and finance industries.
Growing venture capital community.
Luxury waterfront real estate.
International connectivity.
Strong restaurant, entertainment and cultural scene.

At the same time, states such as California and New York have considered or implemented additional taxes targeting wealthy residents, prompting some executives to reconsider where they live and work.

(With inputs from Bloomberg)