Mark Zuckerberg in Contract to Buy Indian Creek Island Mansion as Billionaire Exodus to Florida Accelerates
As reported by the Wall Street Journal, Mark Zuckerberg and his wife Priscilla Chan have quietly gone into contract to acquire one of South Florida’s most extraordinary luxury homes — a newly completed waterfront mansion at 2 Indian Creek Island Road in Miami’s ultra-exclusive Indian Creek Island enclave. The off-market deal, reportedly negotiated without public listing and possibly outside traditional brokerage channels, is estimated to be between $150 million and $200 million — a potential record for Miami-Dade County luxury residential real estate.
What Makes the Indian Creek Purchase Noteworthy
Indian Creek, known as the “Billionaire Bunker,” is one of the most secure and private residential islands in the United States. The 1.8-acre estate is newly completed and features the scale and amenities expected at the ultra-luxury level, including expansive waterfront vistas and privacy beyond typical gated communities.
The seller is Peter Cancro, founder of Jersey Mike’s Subs, who developed the property after acquiring it for significantly less in prior years.
If finalized within the reported range, the sale would underscore the ongoing surge in record-setting pricing in South Florida’s trophy home market.
A Broader Trend: Billionaires Fleeing California
Zuckerberg’s move isn’t happening in isolation. In recent months, multiple California-based tech billionaires have been spotted acquiring major real estate in Miami and surrounding South Florida markets:
- Google co-founder Larry Page purchased two Coconut Grove estates for $173.4M
- Google co-founder Sergey Brin bought a waterfront mansion on Allison Island for $50M
This surge aligns with heightened concerns over a proposed “billionaire tax” in California — a one-time wealth tax targeted at residents with net worths above $1 billion that could apply retroactively, prompting strategic relocations ahead of any enactment.
Luxury real estate professionals have noted that some ultra-wealthy buyers have rapidly established Florida residency, completing purchases and closings within a week of decision — illustrating how tax policy is influencing high-end property movements.
Why Florida — and Miami — Have Become the Epicenter
Several factors make Miami and South Florida especially attractive to ultra-wealthy buyers:
- No state income tax, providing a major financial incentive compared with high-tax states like California.
- A robust luxury real estate market with trophy properties already in place.
- A globally connected lifestyle and business community that appeals to executives and founders.
- Privacy and security in enclaves like Indian Creek — coveted assets for high-profile residents.
This combination is driving not just interest but actual deals.
What Zuckerberg’s Deal Signals for the Market
Mark Zuckerberg’s reported Indian Creek acquisition isn’t just another home purchase — it’s a symbolic moment in the luxury housing segment and the broader narrative of wealth mobility in the U.S.
Whether viewed as a lifestyle choice or a financial strategy, the purchase reinforces Miami’s role as a premier destination for ultra-high-net-worth individuals. With multi-hundred-million-dollar properties transacting away from California, South Florida’s market dynamics could shift further toward scarcity and higher price benchmarks.
As billionaire migrations accelerate and tax policies evolve, luxury real estate trends once viewed as niche are now shaping national conversations about wealth, residency, and mobility.
