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

Main Idea: Larry Page and Sergey Brin are moving more of their wealth and property to Florida as California’s proposed billionaire tax and other West Coast tax changes push rich residents south.

Key Points:

• California is considering a one-time 5% tax on billionaires’ net worth, and Page and Brin bought Florida property before key deadlines.
• The article says their move could reduce future tax revenue for California by tens of billions of dollars if the tax passes.
• Florida’s lack of income tax and capital gains tax, plus luxury waterfront homes in Miami, are drawing more wealthy buyers.
• Mark Zuckerberg is also among the high-profile billionaires buying in Florida, showing the trend is wider than just the Google cofounders.