Miami's luxury real estate market has entered a new chapter, and the authors are some of the wealthiest people on the planet.
In the span of just a few weeks this February, a string of headline-making moves by tech billionaires and major corporations has intensified what brokers are now calling a billionaire wave across South Florida. The latest signal: Meta CEO Mark Zuckerberg and his wife, Dr. Priscilla Chan, are reportedly purchasing a newly completed mansion on Indian Creek Island, the ultra-private 300-acre enclave near Miami Beach that has earned the nickname "Billionaire Bunker."
The price tag for Zuckerberg's property is estimated between $150 million and $200 million, according to Mick Duchon, a Miami Beach-based agent with the Corcoran Group who specializes in high-end waterfront properties. The purchase would place Zuckerberg just doors away from Amazon founder Jeff Bezos, who has spent more than $230 million assembling a multi-lot compound on the island's coveted western shore since 2023.
A Pattern, Not a Blip
What's striking about the current moment isn't any single transaction. It's the velocity. Several of the world's richest individuals have been actively shopping for or closing on South Florida properties in recent weeks, the Miami Herald reported on February 13, fueling speculation that a deeper shift is underway. Many are tech billionaires from California, drawn by Florida's lack of a state income tax and growing concerns over proposed wealth taxes in their home states.
Indian Creek Island, with just 41 lots and roughly 84 residents, has become ground zero for this migration. Even vacant land commands extraordinary premiums: a waterfront lot adjacent to Bezos's compound sold for $105 million last year. Homes on the western side of the island, where buyers enjoy direct Biscayne Bay access and sunset views across open water, now start around $60 million.
Corporate Miami Gains Momentum
The billionaire buying spree is matched by a surge in corporate relocations that are reinforcing Miami's appeal as more than just a lifestyle destination. On February 17, AI software giant Palantir Technologies announced it had moved its headquarters from Denver to Miami, listing its new base at the Abbey at Aventura complex in Aventura. The company, led by Alex Karp, carries a market valuation of $312 billion and employs roughly 4,000 people. Palantir's move follows its co-founder Peter Thiel's Founders Fund, which opened a Miami office in 2021 before expanding to Wynwood.
Private equity firm Trinity Investments also relocated its headquarters to Miami from Honolulu, joining a growing roster of financial and tech firms choosing South Florida as their home base. The trend has been building for years, but the pace of announcements in early 2026 has been notable.
Inventory Tightens at the Top
For the broader luxury market, the influx of ultra-high-net-worth buyers is creating a supply squeeze at the highest price points. According to The Real Deal's market tracker, 47 new luxury listings were added to the Miami market most recently, bringing total inventory to 1,301 listings, with properties spending an average of 148 days on market. But in the trophy segment, where buyers like Zuckerberg and Bezos operate, available inventory is vanishingly thin.
Builders are taking notice. A February 5 Real Deal event in Coral Gables brought together some of Miami's top luxury developers, including Todd Michael Glaser, Luis Bosch, and Manny Varas, to discuss strategies for courting the ultra-wealthy buyers now flooding the market. The consensus: demand for custom, move-in-ready estates on waterfront land has never been higher, and the pipeline can't keep up.
What It Means
The convergence of personal wealth and corporate capital flowing into Miami is creating a feedback loop. As more billionaires establish residency, their companies and social networks follow, which in turn attracts more wealth. For sellers in Miami's most exclusive neighborhoods, from Indian Creek to Star Island to La Gorce, the market dynamics are firmly in their favor. For buyers, the message is simple: the window to acquire trophy waterfront property in South Florida is narrowing fast.
Photo: Dennis Zhang / Unsplash
