Zuckerberg’s move to Miami reflects South Florida’s fiscal magnetism for the wealthy

Mark Zuckerberg’s move to Florida, driven by tax reasons, reflects Miami’s growing appeal to the ultra-wealthy. Whose numbers have doubled in the city over the last decade. According to a report by Henley & Partners, including Latin Americans such as Mexicans and Colombians.

The news about the Facebook founder’s purchase of a home estimated to be worth up to $200 million in Indian Creek, a private island north of Miami. Came as a report showed a 94% increase in the number of millionaires living in the metropolis between 2014 and 2024, to a total of 38,800.

This made Miami the fifth fastest-growing city in the world ranking of 50, behind Shenzhen and Hangzhou in China, Dubai in the United Arab Emirates, and San Francisco Bay. According to the report “The World’s Richest Cities” by Henley & Partners, a firm specializing in millionaire relocation.

Miami has 17 billionaire residents, while Palm Beach and Miami Beach, also in Florida, are now the most expensive cities for real estate in the United States after New York. With an average value of $18,000 and $17,800 per square meter, the company added.

Zuckerberg would join an island with residents such as Amazon CEO Jeff Bezos, football player Tom Brady, and Ivanka Trump, daughter of President Donald Trump.