Tech Billionaire Larry Page Drops $173.4M on Two Miami Coconut Grove Estates

In a headline-grabbing real-estate move, Google co-founder Larry Page — widely ranked as the second-wealthiest person in the world — has just spent a staggering $173.4 million on two ultra-luxury homes in Miami’s Coconut Grove neighborhood, according to a report from The Wall Street Journal.

A Major Luxury Real Estate Buy in Miami

According to The Wall Street Journal, Page’s recent purchases include:

• A 4.5-acre Biscayne Bay waterfront estate that previously belonged to restaurateur Jonathan Lewis, acquired for $101.5 million after being listed at up to $135 million.
• A 17,000-square-foot nearby estate with seven bedrooms, bought for $71.9 million from Sloan and Roger Barnett on Jan. 5, 2026.

These two acquisitions bring Page’s Coconut Grove real-estate expenditures to $173.4 million, underlining the strength of Miami’s ultraluxury market.

Why Miami? Tax Policy and a Billionaire Migration

Real-estate insiders tell The Wall Street Journal that Page’s deals are part of a broader migration of Silicon Valley elites to Florida. This trend has accelerated amid debate over a proposed California wealth tax, which would impose a one-time 5% levy on billionaire assets retroactive to Jan. 1, 2026 — prompting some wealthy individuals to relocate to more tax-favorable states like Florida.

Miami’s appeal extends beyond taxes, though. The city’s luxury housing market has seen record-breaking sales, particularly in the nine-figure range, reflecting national demand among ultrawealthy buyers seeking waterfront estates, privacy, and investment upside.

Coconut Grove: A Hotspot for High-End Buyers

Coconut Grove stands out as one of South Florida’s premier luxury markets, boasting historic estates, deep water access, and lush privacy. Page’s high-profile purchases add to a growing list of elite transactions in the area — including several above $100 million in recent years — cementing the neighborhood’s reputation as a billionaire magnet.

The Bigger Picture: Florida’s Luxury Market Surge

Miami and the broader Florida luxury market continue to outperform many traditional high-end real-estate hubs:

• In 2025, Florida recorded 19 sales above $50 million, outpacing New York and California.
• Miami alone had four transactions exceeding $100 million, underlining fierce demand at the top tier.

For sellers and brokers alike, the influx of billionaire buyers is reshaping South Florida’s property landscape, with estates in Coconut Grove and beyond achieving unprecedented prices.

What This Means for Buyers and Investors

Whether you’re tracking ultra-luxury trends or contemplating your next investment or relocation:

• Tax policy matters: State tax differences are increasingly influencing where high-net-worth individuals put down roots.
• Miami remains a global magnet: With elite buyers like Larry Page making significant commitments, the city’s luxury market shows no sign of cooling.
• Record sales set benchmarks: Transactions in the nine figures are resetting expectations for waterfront property values across South Florida.