California Wealth Tax Leads Google Billionaire Larry Page to Move to Miami via $173M Deal

Key Points

• Google co-founder Larry Page paid $173M for two waterfront estates in Coconut Grove
• Sergey Brin is actively shopping in Miami Beach, arriving via his $450M megayacht
• Their relocation push is tied to California’s proposed 5% wealth tax on billionaires

Big Tech Moves In

Two of the wealthiest names in tech are reshaping Miami’s luxury real estate market. Larry Page has quietly acquired two high-end waterfront estates in Coconut Grove totaling $173 million, while Sergey Brin is hunting for a trophy home in Miami Beach. Their decisions come as California considers a billionaire-targeted wealth tax, triggering a high-end exodus to Florida. Investors watching the Miami market should take note of what this means for demand, prices, and positioning.

Inside Page’s Coconut Grove Deals

• Page paid $101.5M for Banyan Ridge, a 4.5-acre waterfront estate at 3585 Anchorage Way
• The property was once listed for $135M and sits in one of Miami’s most private enclaves
• He also bought a 10,400-sq-ft mansion at 3085 Munroe Drive for $71.9M
• The Munroe Drive home features seven bedrooms and eight bathrooms
• These transactions mark one of the largest private real estate investments in Miami’s history
• Sellers included the estate of restaurateur Jonathan Lewis and Shaklee CEO Roger Barnett

Brin Eyes Miami Beach Waterfront

• Sergey Brin arrived during Art Basel aboard his $450M megayacht, Dragonfly
• He was rumored to be behind the Banyan Ridge deal, but is instead focusing on Miami Beach
• No purchase has been finalized yet, but sources say he is actively looking

Why Billionaires Are Leaving California

• California’s proposed wealth tax would hit individuals worth over $1 billion with a 5 percent asset levy
• Page has reportedly told associates he plans to leave the state and formed three LLCs in Florida last month
• Real estate insiders report a surge in interest from California’s billionaire class
• Bespoke Real Estate's Brett Harris says demand from ultra-wealthy buyers is exploding
• Waterfront enclaves like Coconut Grove and Star Island are leading the charge in price growth

What This Means for Investors

Larry Page is not just buying homes. He’s planting capital. These purchases reflect the larger trend of billionaire capital moving to Florida, with Miami emerging as the biggest winner. Expect continued upward pressure on prices for waterfront trophy properties and limited inventory in premium neighborhoods. The ultra-high-end market just got hotter.