Larry Page buys two Miami estates for $173M amid California billionaire wealth tax fears
Jan 9, 2026
Key Points
- Google co-founder Larry Page purchases two Miami Coconut Grove estates for $173 million, paying $101 million for a waterfront compound and $71.9 million for an adjacent property.
- California's proposed 5% retroactive wealth tax on billionaires is driving ultra-wealthy Silicon Valley residents to relocate to Florida, with real estate agents reporting daily inquiries from Bay Area clients.
- Miami's ultra-luxury market is surging as a tax haven alternative, logging 19 sales above $50 million in 2025 compared with 12 in New York and 10 in California.
Summary
Google co-founder Larry Page bought two Miami estates in Coconut Grove for $173 million combined in December. He paid $101 million for a waterfront compound previously owned by late restaurateur Jonathan Lewis and $71.9 million for a nearby property from heiress Sloane Lindeman Barnett and her husband Roger Barnett.
The purchases align with California's proposed 5% wealth tax on billionaire assets, set to retroactively apply to anyone who was a state resident as of January 1, 2026. Though still in development and not yet on a ballot, the prospect has prompted a rush among ultra-wealthy Silicon Valley residents to relocate. Dina Goldentier, a realtor at Douglas Elliman, told the Wall Street Journal she shows property to Bay Area clients almost daily. "Every conversation I overhear, they're talking about the wealth tax and how it's retroactive. They're in a hurry, and they're all looking at the same houses."
Miami's ultra-luxury market is surging. In 2025, Florida recorded 19 sales above $50 million compared with 12 in New York and 10 in California. Miami alone closed four deals above $100 million last year. The Lewis compound spans 4.5 acres on Biscayne Bay with two primary residences: one designed for Secretary of State William Jennings Bryan in the 1920s and another built by Lewis around 2002. The property had listed for $135 million in 2024 before dropping to $115 million most recently.
Page, worth approximately $270 billion according to Bloomberg, holds New Zealand residency obtained in 2021 and maintains a home in Palo Alto. He stepped back from active management of Google in 2019 but has gradually re-engaged during the AI boom. Page and co-founder Sergey Brin started Google as a Stanford student project in 1998 and built it into one of the world's most valuable companies. Real estate agents told the Journal they cannot publicly discuss their deals due to non-disclosure agreements.