Miami, Thekabarnews.com—Larry Page, one of the founders of Google, has surreptitiously bought two ultra-luxury mansions in Coconut Grove, Miami, for a total of $173.4 million, according to individuals who know about the deals. This shows that more and more wealthy people from Silicon Valley are moving to Florida. They are doing so because of the uncertainty about taxes in California.

Page bought a huge beachfront property that used to belong to the late restaurant owner Jonathan Lewis for $101.5 million in December, according to records.

Page bought a Coconut Grove home nearby for $71.9 million from heiress Sloan Lindemann Barnett and her husband, Roger Barnett, just a few weeks later, on January 5. This purchase solidified his presence in one of Miami’s most elite areas.

Page and Mark Lewis, Jonathan Lewis’s husband, did not reply to calls for comment. When we called Sloan Lindemann Barnett, they would not say anything about the deal.

Billionaires respond to the proposal for a wealth tax in California

Page’s buying a lot in Miami comes at the same time that California is debating a proposed ballot measure that would tax billionaires’ assets at a rate of 5% once. The idea would apply to anybody who lived in California on January 1, 2026. The implications would make high-net-worth people even more worried.

Since the idea came out, Florida, especially the Miami area, has seen a lot of interest from tech founders, investors, and executives looking for tax-friendly options. Local real estate agents say the change happened quickly. Additionally, it is quite competitive.

Dina Goldentayer of Douglas Elliman said, “I show property to someone from the San Francisco Bay Area almost every day. Everyone is talking about the wealth tax and the part that goes back in time. People who want to buy feel pressured, and a lot of them are looking at the same places.”

Silicon Valley is looking at South Florida

Page is not the only major tech company reportedly considering a relocation. Sources close to the situation say that Sergey Brin, one of the co-founders of Google, is also talking about buying a home in the Miami area.

The flood of digital money has sparked rumors in South Florida’s high-end real estate market, where agents keep track of whose billionaire is buying which waterfront property. Coconut Grove has been a top choice because of its privacy, access to deep water, and closeness to downtown Miami.

As California’s tax battle goes on, Page’s high-profile purchases show that America’s richest tech leaders are changing their strategies. This might change the U.S. luxury real estate market. It may also change the location of Silicon Valley’s impact in the years to come.