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Fortune

Business

Marco Quiroz-Gutierrez

The tax escape map: Billionaires are bolting for Florida from the West Coast and taking some $29 billion in tax revenue with them

Larry Ellison Florida Ken Griffin Larry Page Peter Thiel Sergey Brin Miami Jeff Bezos Citadel Donald Trump

(Credit: Julia Demaree Nikhinson—AP Photo/Bloomberg/Getty Images)

The billionaire exodus from the West Coast to Florida is underway as the ultrawealthy seek refuge from wealth taxes in states like California and Washington.

Google cofounders Larry Page (net worth $295 billion) and Sergey Brin (net worth $275 billion) rushed to leave California last year before the Jan. 1 deadline for the California billionaire tax. Both have purchased property in Florida. Meanwhile, former Starbucks CEO Howard Schultz, whose net worth is $3.4 billion, and Meta CEO Mark Zuckerberg, whose net worth is $196 billion, also both bought property in the Sunshine State earlier this year.

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