According to the WSJ, Mark Zuckerberg and his wife Priscilla Chan are purchasing a newly completed waterfront mansion on Miami’s Indian Creek island, adding to a wave of California tech billionaires relocating to tax-free Florida.
The property, on the exclusive gated island known as “Billionaire Bunker,” is expected to fetch between USD$150 million and $200 million (AUD$214-$285 million) according to local real estate agents.Â
An undeveloped lot of similar size on Indian Creek sold for approximately USD$105 million last year.
The seller is reportedly Peter Cancro, founder of Jersey Mike’s Subs, who sold a majority stake in the sandwich chain to Blackstone in 2024 for USD$8 billion.Â
The nearly 2-acre estate features wraparound terraces, a private dock, elaborate water features and a waterfront pool.
The deal, which wasn’t publicly listed, comes as California considers a proposed 5% tax on billionaires that would apply retroactively to 1 January 2026.
The purchase places Mr Zuckerberg among several tech titans now calling Indian Creek home, including Amazon founder Jeff Bezos and investor Carl Icahn.Â
NFL star Tom Brady also owns property on the island.
The migration of California billionaires has supercharged Miami’s ultra-luxury market to levels matching or exceeding the pandemic peak, according to local brokers.
Google co-founders Larry Page and Sergey Brin have also been active in the market. Mr Page reportedly purchased several properties in Coconut Grove for approximately USD$188 million in recent months, while Brin has been in discussions to buy a Miami Beach property for USD$50 million.
Miami real estate lawyers said they worked at “breakneck pace” at the end of 2025 to close multimillion-dollar sales before the proposed tax’s retroactive date, with some turning away clients due to the volume of deals.
Mr Zuckerberg already holds an extensive property portfolio including homes in Lake Tahoe, Palo Alto and on the Hawaiian island of Kauai.
