Miami hasn’t always been a destination for luxury and wealth. For a long time, it was seen as a fun place to party and vacation—an escape from the world. But as more wealth has moved from major cities like New York and Los Angeles, Miami has become an epicenter for luxury and lavishness.
In 2025, a home in the city sold for more than $100 million for the first time ever. Jeff Bezos has assembled more than $230 million in property on Indian Creek Island, the guarded enclave known as the “Billionaire Bunker,” and Citadel CEO Ken Griffin moved his company’s headquarters there. Mark Zuckerberg, Larry Page, and Peter Thiel all also bought property there.
And now, 19 of Florida’s 20 richest billionaires officially reside in Miami-Dade County, according to data published earlier this year. The pull is familiar: no state income tax, plenty of year-round sun, and a business-friendly climate that COVID-era remote work only improved. Meanwhile, Miami’s millionaire population has grown 75% in a decade, at least in part because of heat from California’s Proposition 40, a proposed one-time 5% wealth tax on billionaires that has some Californians moving coasts…