Larry Page Relocates to Miami in Tax-Efficient Move

Following Jeff Bezos' Footsteps

Google co-founder Larry Page has made headlines with his recent purchase of two luxury properties in Miami's exclusive Coconut Grove neighborhood, totaling $173 million ¹

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. This strategic move mirrors Amazon founder Jeff Bezos' recent relocation from Washington to Miami, signaling a trend among high-net-worth individuals seeking more tax-friendly environments.

Details of the Property Acquisition

The properties, purchased in late December and early January, are valued at $101.5 million and $71.9 million respectively ²

. One of the homes features 13 bedrooms and 15 bathrooms, with direct ocean views that make it a particularly desirable residence. The transactions demonstrate Page's significant investment in his new Miami base.

Tax Implications and Strategic Considerations

The relocation is primarily driven by tax efficiency considerations. Florida's more favorable tax environment compared to California is a significant factor in Page's decision. California's proposed wealth tax has been a concern for high-net-worth individuals like Page, making states like Florida with no state income tax particularly attractive ¹

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Market and Economic Context

This move follows a growing trend of high-profile tech executives and billionaires relocating to tax-friendly states. The shift not only affects the individuals' tax burdens but also impacts the economic landscape of both the states they leave and the ones they join. Miami, in particular, is becoming an attractive hub for tech and business leaders.