California’s calling: Are more billionaires on their way to South Florida?
A proposed 5 percent tax on billionaires in California is propelling another wave of wealth to South Florida. Look no further than Google co-founder Larry Page, one of the three wealthiest men in the world, who recently spent a combined $173 million to buy two waterfront homes in Miami’s Coconut Grove. Page’s purchases aren’t shocking. In addition to the proposed California tax, ultra high-net worth buyers have for decades been attracted to Florida for its lack of state income tax, conservative politics and pleasant weather. The region is already home to billionaires, who include Amazon founder Jeff Bezos, PayPal co-founder […]This article originally appeared on The Real Deal. Click here to read the full story.
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