{"id":4659,"date":"2026-09-16T07:36:53","date_gmt":"2026-09-16T07:36:53","guid":{"rendered":"https:\/\/www.vaultinsider.top\/?p=4659"},"modified":"2026-09-16T07:36:53","modified_gmt":"2026-09-16T07:36:53","slug":"billionaires-are-flocking-to-these-3-florida-localities-heres-how-much-they-save-in-state-taxes","status":"publish","type":"post","link":"https:\/\/www.vaultinsider.top\/?p=4659","title":{"rendered":"Billionaires are flocking to these 3 Florida localities\u2014here’s how much they save in state taxes"},"content":{"rendered":"

<\/p>\n

As more states have begun to introduce wealth taxes, billionaires and other ultrawealthy individuals have been forced to make the hard choice between sucking it up and paying the bill or moving elsewhere.\u00a0<\/p>\n

\n

Those who have chosen to dodge proposed wealth taxes in states including California and Washington have flocked to Florida. Billionaire Californians face a one-time 5% tax on their net worth, so some, including Google cofounders Larry Page and Sergey Brin and venture capitalist Peter Thiel,\u00a0left California for Miami.\u00a0<\/p>\n

Washingtonians who make at least $1 million will also face a flat 9.9% tax starting in 2028, and executives once based there, like Amazon founder Jeff Bezos and former Starbucks CEO Howard Schultz, have also left for Florida.\u00a0<\/p>\n

Florida has become a safe haven for the ultrawealthy because it has no state income tax, and it\u2019s also solidified itself as an epicenter of luxury and lavishness. Plus, they\u2019re free from the burden of a wealth tax. Three of the primary localities where the ultrawealthy are flocking include Miami, Palm Beach County, and Naples.\u00a0<\/p>\n

How much are billionaires saving by moving to Florida?<\/h2>\n

Florida has no state income tax, no capital gains tax, and no wealth tax, but the math on how much billionaires or the ultrawealthy save by living there is a bit more complicated. That\u2019s because the ultrawealthy\u2019s income typically comes from a stock sale or a dividend rather than a salary. Take Larry Ellison, for example. By making an estate in Palm Beach County his primary residence before selling Oracle stock, the billionaire saved an estimated $1 billion in taxes, according to Forbes<\/em>.\u00a0<\/em><\/p>\n

Wealth taxes hit assets like stocks, real estate, and art rather than income, as MIT Sloan notes.<\/p>\n

But the wealth tax is still what garners the most attention. California\u2019s Proposition 40 would slap a one-time 5% levy on the net worth of billionaires who lived in the state after Jan. 1 this year. Fortune<\/em>\u2019s Marco Quiroz-Gutierrez previously estimated the departures of billionaires like Page and Brin could cost the measure some $29 billion of the $100 billion it\u2019s after.\u00a0<\/p>\n

So the wealth tax is what encouraged some billionaires to move, but the income and capital-gains taxes they\u2019ll never pay again are what keep them there.<\/p>\n

Miami: the billionaire bunker<\/h2>\n

Miami is where wealth migration is most prominent: 19 of Florida\u2019s 20 richest billionaires officially reside there. Many of them cluster on the same guarded islands like Indian Creek (a.k.a. Billionaire Bunker), where Bezos has assembled a property compound worth more than $230 million. Meta CEO Mark Zuckerberg, Page, and Thiel also live there.<\/p>\n

Citadel\u2019s Ken Griffin also moved his hedge fund\u2019s headquarters to the city, and Page has spent more than $180 million building a compound in Coconut Grove. Meanwhile, Miami\u2019s millionaire population has grown 94% in just a decade, to nearly 40,000, according to Henley & Partners\u2019 World\u2019s Wealthiest Cities in 2025 report.\u00a0<\/p>\n

\u201cIt\u2019s one of the best cities in the entire world,\u201d Miami developer Robert Rivani recently told Fortune<\/em>. \u201cIt\u2019s just a great place to live. It\u2019s a great political landscape for people who want to expand, raise families, and that leads to having great real estate growth. All the big guys [are] moving down here.\u201d<\/p>\n

Palm Beach County<\/h2>\n

Palm Beach County has also become a major wealth hub. Larry Ellison made a 16-acre Manalapan estate his primary residence, about 10 miles from Mar-a-Lago. Griffin has also poured about $450 million into a waterfront compound in the county. Meanwhile, Citadel, BlackRock, and Goldman Sachs all have expanded there, earning the area its \u201cWall Street South\u201d nickname.\u00a0<\/p>\n

The wealth has piled up fast. Between 2014 and 2024, West Palm Beach and Palm Beach saw their millionaire population jump 112%, which is the fourth-fastest growth of any city in the world, according to Henley & Partners. The Business Development Board of Palm Beach County counts roughly 60 billionaires countywide.<\/p>\n

Naples<\/h2>\n

Naples, long a popular retirement destination, also continues to attract vast amounts of wealth. It attracts what\u2019s seen as passive wealth, or retirees and heirs who prioritize golf, privacy, and beaches. Forbes<\/em>, which in June called Naples the place \u201cwhere America\u2019s new \u2018old money\u2019 hides,\u201d notes it\u2019s frequently cited as having one of the highest concentrations of millionaires per capita in the country.\u00a0<\/p>\n

Several billionaires also live in Naples and nearby Marco Island, including Jacksonville Jaguars owner Shahid Khan, who is worth about $13.3 billion. Two of the six priciest neighborhoods in America by price per square foot\u2014Port Royal and Aqualane Shores\u2014 also sit in Naples.<\/p>\n<\/div>\n

#Billionaires #flocking #Florida #localitiesheres #save #state #taxes<\/p>\n","protected":false},"excerpt":{"rendered":"

As more states have begun to i… <\/p>\n","protected":false},"author":1,"featured_media":4660,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[274,479,7697,634,7698,86,2287,649,81],"class_list":["post-4659","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","tag-billionaire","tag-billionaires","tag-flocking","tag-florida","tag-localitiesheres","tag-save","tag-state","tag-taxes","tag-wealth"],"yoast_head":"\nBillionaires are flocking to these 3 Florida localities\u2014here's how much they save in state taxes - Finance News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.vaultinsider.top\/?p=4659\" \/>\n<meta property=\"og:locale\" content=\"zh_CN\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Billionaires are flocking to these 3 Florida localities\u2014here's how much they save in state taxes - Finance News\" \/>\n<meta property=\"og:description\" content=\"As more states have begun to i…\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.vaultinsider.top\/?p=4659\" \/>\n<meta property=\"og:site_name\" content=\"Finance News\" \/>\n<meta property=\"article:published_time\" content=\"2026-09-16T07:36:53+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/fortune.com\/img-assets\/wp-content\/uploads\/2026\/09\/GettyImages-2201985082-e1789498842615.jpg?w=2048\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"\u4f5c\u8005\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"\u9884\u8ba1\u9605\u8bfb\u65f6\u95f4\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 \u5206\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.vaultinsider.top\\\/?p=4659#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.vaultinsider.top\\\/?p=4659\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\\\/\\\/www.vaultinsider.top\\\/#\\\/schema\\\/person\\\/ed40724a3e5d482ce66781a042c3c31e\"},\"headline\":\"Billionaires are flocking to these 3 Florida localities\u2014here’s how much they save in state taxes\",\"datePublished\":\"2026-09-16T07:36:53+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.vaultinsider.top\\\/?p=4659\"},\"wordCount\":774,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.vaultinsider.top\\\/?p=4659#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.vaultinsider.top\\\/wp-content\\\/uploads\\\/2026\\\/09\\\/GettyImages-2201985082-e1789498842615.jpg\",\"keywords\":[\"Billionaire\",\"billionaires\",\"flocking\",\"Florida\",\"localitiesheres\",\"Save\",\"State\",\"Taxes\",\"wealth\"],\"articleSection\":[\"Finance News\"],\"inLanguage\":\"zh-Hans\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.vaultinsider.top\\\/?p=4659#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.vaultinsider.top\\\/?p=4659\",\"url\":\"https:\\\/\\\/www.vaultinsider.top\\\/?p=4659\",\"name\":\"Billionaires are flocking to these 3 Florida localities\u2014here's how much they save in state taxes - Finance News\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.vaultinsider.top\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.vaultinsider.top\\\/?p=4659#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.vaultinsider.top\\\/?p=4659#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.vaultinsider.top\\\/wp-content\\\/uploads\\\/2026\\\/09\\\/GettyImages-2201985082-e1789498842615.jpg\",\"datePublished\":\"2026-09-16T07:36:53+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.vaultinsider.top\\\/#\\\/schema\\\/person\\\/ed40724a3e5d482ce66781a042c3c31e\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.vaultinsider.top\\\/?p=4659#breadcrumb\"},\"inLanguage\":\"zh-Hans\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.vaultinsider.top\\\/?p=4659\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"zh-Hans\",\"@id\":\"https:\\\/\\\/www.vaultinsider.top\\\/?p=4659#primaryimage\",\"url\":\"https:\\\/\\\/www.vaultinsider.top\\\/wp-content\\\/uploads\\\/2026\\\/09\\\/GettyImages-2201985082-e1789498842615.jpg\",\"contentUrl\":\"https:\\\/\\\/www.vaultinsider.top\\\/wp-content\\\/uploads\\\/2026\\\/09\\\/GettyImages-2201985082-e1789498842615.jpg\",\"width\":1200,\"height\":600},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.vaultinsider.top\\\/?p=4659#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"\u9996\u9875\",\"item\":\"https:\\\/\\\/www.vaultinsider.top\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Billionaires are flocking to these 3 Florida localities\u2014here’s how much they save in state taxes\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.vaultinsider.top\\\/#website\",\"url\":\"https:\\\/\\\/www.vaultinsider.top\\\/\",\"name\":\"Finance News\",\"description\":\"Just another Finance News site\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.vaultinsider.top\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"zh-Hans\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.vaultinsider.top\\\/#\\\/schema\\\/person\\\/ed40724a3e5d482ce66781a042c3c31e\",\"name\":\"admin\",\"url\":\"https:\\\/\\\/www.vaultinsider.top\\\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Billionaires are flocking to these 3 Florida localities\u2014here's how much they save in state taxes - Finance News","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.vaultinsider.top\/?p=4659","og_locale":"zh_CN","og_type":"article","og_title":"Billionaires are flocking to these 3 Florida localities\u2014here's how much they save in state taxes - Finance News","og_description":"As more states have begun to i…","og_url":"https:\/\/www.vaultinsider.top\/?p=4659","og_site_name":"Finance News","article_published_time":"2026-09-16T07:36:53+00:00","og_image":[{"url":"https:\/\/fortune.com\/img-assets\/wp-content\/uploads\/2026\/09\/GettyImages-2201985082-e1789498842615.jpg?w=2048","type":"","width":"","height":""}],"author":"admin","twitter_card":"summary_large_image","twitter_misc":{"\u4f5c\u8005":"admin","\u9884\u8ba1\u9605\u8bfb\u65f6\u95f4":"4 \u5206"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.vaultinsider.top\/?p=4659#article","isPartOf":{"@id":"https:\/\/www.vaultinsider.top\/?p=4659"},"author":{"name":"admin","@id":"https:\/\/www.vaultinsider.top\/#\/schema\/person\/ed40724a3e5d482ce66781a042c3c31e"},"headline":"Billionaires are flocking to these 3 Florida localities\u2014here’s how much they save in state taxes","datePublished":"2026-09-16T07:36:53+00:00","mainEntityOfPage":{"@id":"https:\/\/www.vaultinsider.top\/?p=4659"},"wordCount":774,"commentCount":0,"image":{"@id":"https:\/\/www.vaultinsider.top\/?p=4659#primaryimage"},"thumbnailUrl":"https:\/\/www.vaultinsider.top\/wp-content\/uploads\/2026\/09\/GettyImages-2201985082-e1789498842615.jpg","keywords":["Billionaire","billionaires","flocking","Florida","localitiesheres","Save","State","Taxes","wealth"],"articleSection":["Finance News"],"inLanguage":"zh-Hans","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.vaultinsider.top\/?p=4659#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.vaultinsider.top\/?p=4659","url":"https:\/\/www.vaultinsider.top\/?p=4659","name":"Billionaires are flocking to these 3 Florida localities\u2014here's how much they save in state taxes - Finance News","isPartOf":{"@id":"https:\/\/www.vaultinsider.top\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.vaultinsider.top\/?p=4659#primaryimage"},"image":{"@id":"https:\/\/www.vaultinsider.top\/?p=4659#primaryimage"},"thumbnailUrl":"https:\/\/www.vaultinsider.top\/wp-content\/uploads\/2026\/09\/GettyImages-2201985082-e1789498842615.jpg","datePublished":"2026-09-16T07:36:53+00:00","author":{"@id":"https:\/\/www.vaultinsider.top\/#\/schema\/person\/ed40724a3e5d482ce66781a042c3c31e"},"breadcrumb":{"@id":"https:\/\/www.vaultinsider.top\/?p=4659#breadcrumb"},"inLanguage":"zh-Hans","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.vaultinsider.top\/?p=4659"]}]},{"@type":"ImageObject","inLanguage":"zh-Hans","@id":"https:\/\/www.vaultinsider.top\/?p=4659#primaryimage","url":"https:\/\/www.vaultinsider.top\/wp-content\/uploads\/2026\/09\/GettyImages-2201985082-e1789498842615.jpg","contentUrl":"https:\/\/www.vaultinsider.top\/wp-content\/uploads\/2026\/09\/GettyImages-2201985082-e1789498842615.jpg","width":1200,"height":600},{"@type":"BreadcrumbList","@id":"https:\/\/www.vaultinsider.top\/?p=4659#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"\u9996\u9875","item":"https:\/\/www.vaultinsider.top\/"},{"@type":"ListItem","position":2,"name":"Billionaires are flocking to these 3 Florida localities\u2014here’s how much they save in state taxes"}]},{"@type":"WebSite","@id":"https:\/\/www.vaultinsider.top\/#website","url":"https:\/\/www.vaultinsider.top\/","name":"Finance News","description":"Just another Finance News site","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.vaultinsider.top\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"zh-Hans"},{"@type":"Person","@id":"https:\/\/www.vaultinsider.top\/#\/schema\/person\/ed40724a3e5d482ce66781a042c3c31e","name":"admin","url":"https:\/\/www.vaultinsider.top\/?author=1"}]}},"_links":{"self":[{"href":"https:\/\/www.vaultinsider.top\/index.php?rest_route=\/wp\/v2\/posts\/4659","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vaultinsider.top\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vaultinsider.top\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vaultinsider.top\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vaultinsider.top\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4659"}],"version-history":[{"count":0,"href":"https:\/\/www.vaultinsider.top\/index.php?rest_route=\/wp\/v2\/posts\/4659\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.vaultinsider.top\/index.php?rest_route=\/wp\/v2\/media\/4660"}],"wp:attachment":[{"href":"https:\/\/www.vaultinsider.top\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4659"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vaultinsider.top\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4659"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vaultinsider.top\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4659"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}