Why Billionaires Are Desperate To 'Live' In Florida

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#billionaire #florida #business

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Last month Jeff Bezos settled on this ninety MILLION dollar [$90,000,000] mansion on Indian Creek Island in Miami. That is the THIRD eight figure property purchase the Amazon founder has made in Miami in just the last 12 months. But the billionaire migration to Florida is making even Jeff's two hundred million dollar portfolio of properties look downright modest. According to the New York Post, Citadel Securities CEO Ken Griffin has purchased SEVENTEEN oceanfront estates, some worth as much as a hundred million [$100,000,000] individually.

He is now knocking them all over to make way for one for one single beach house for his retirement, that is estimated to be worth more than a billion dollars once complete. None of these billionaires are native Florida men, but it’s not the sand and the sun that’s bringing them down there. So why are billionaires scrambling to get into Florida all of a sudden? While other parts of the country are cracking down on billionaires and their extravagant lifestyles, Florida is trying to make itself the perfect hideaway for them and their money.

According to the LA Times the Mayor of Miami actually personally courted Elon Musk encouraging him to move his primary residence and businesses to the city. South Florida WANTS to be the perfect place for you to live… IF you're extremely wealthy. Miami has always been a popular destination for the ultra wealthy to spend their summer vacations. According to data collected in a study by the global wealth management firm Henley and Partners, and compiled by Visual Capitalists, Miami is the most popular vacation destination for the world's twenty five thousand [25,000] Centi-Millionaires.

Those are people with a net worth of one hundred million dollars or more… In the past most of these ultra high net worth individuals would return back to their REAL jobs in REAL cities like Seattle, New York, San Fran or LA. BUT NOW they are moving to Miami for good, and they are doing it for three surprising reasons.

The first reason is that Florida is a safe haven for wealth.

But using Florida as an asset bunker is just the first reason, so it’s time to learn How Money Works to find out why so many Billionaires are desperately rushing to make Florida their home.

[JewelWrites-sogm]

The problem we have is because Most people always taught that " you only need a good job to become rich " . These billionaires are operating on a whole other playbook that many don't even know exists.

[SammSam]

As a native Floridian, I need everybody to go home.

[nwatson]

I live in Florida, not a millionaire. But all the 1% have mansions and Mac mansions here. The cost of living is so high that Working class people are moving out and schools In my area have low enrollment. Homelessness is criminalized with a felony if you are caught sleeping outside.

[youzhou]

”Half of the state’s top 10 billionaires live in South Florida”

So 5/10 billionaires live in the southern part of Florida while the other half live in the northern one😂

[anthonypan]

florida will be as liberal as california in 10 to 15 years.

people seem to forget that california was once the Ronald Reagan California.

The cycle has so far been identical.

Rich people look for cheap places to retire/save on tax/park their money -> they move into the city -> they make the city unaffordable for most -> the city becomes "liberal" and start taxing rich people -> they find another place to flock to

[aprildawnsunshine]

Tiny mistake, Miami and Miami Beach are very very different places, even if they're technically the same on a map. Billionaires are moving to Miami Beach while a trip off the highway in Miami feels like visiting a developing nation. It's The Most stark example of wealth disparity I've ever seen.

[xdab]

Apparently Mar-a-Lago is only worth 18 million.

[RILDIGITAL]

It's fascinating to learn about these unique financial strategies that are so far removed from the reality of the average person. It really underscores the divide between the ultra-wealthy and the rest of us. It's quite staggering how tax laws and market dynamics disproportionately favor the rich and enable them to amass generational wealth with relative ease.

[fern]

Native Floridian: "Well, there goes the neighborhood."

[BondTheOGYT]

Basically weather and wealth, no surprise why Miami is expensive compared to other places

[vipermikem]

Rich, old people having been moving to Florida for decades. Nothing really new here.

[SANDVlCH]

What a wonderful trend. I sure do hope none of these assets are destroyed in a tropical storm…

[EhM-xtpl]

They are huge fans of the GTA series and want to play GTA 6 in the real life location

[yamahayua]

To be successful in markets, traders should understand the crossover between asset classes & liquidity flow. Renee Marie Harrison focuses on Multi-asset trading, a single strategy to manage risk, profit, and the code or the actual decision-making across multi-asset classes. Her skills set is top notch.

[Antenox]

Florida is a real-time contemporary case study on how only the ultra-rich can survive an apocalyptic hellscape

[bryanwilson]

I realized that the secret to making a million is saving for a better investment. I always tell myself you don't need that new Maserati or that vacation just yet. That mindset helped me make more money investing. For example last year I invested 80k in stocks and made about $246k, but guess what? I put it all back and traded again and now I am rounding up close to a million

[leighcounry]

The problems with NYC, San Francisco, Seattle, etc is because of the billionaires and the high earner class. When these billionaires move in considerable numbers to Florida, the same exact problems in NYC, San Francisco, Seattle, etc. will follow them. Besides the handful of high income earners, how are the average American employees like local fire department employees, security guards, teachers, nurses, family doctors, Starbuck's barista, Target employees, lawn care employees, hotel/motel employees, grocery store employees, fast food employees, restaurant employees, etc are supposed to afford living and working in Florida. The same exact problems in the big cities that the billionaires are leaving from. NYC, San Francisco, Seattle, etc are better off in the long run when these billionaires, their companies and the top 10% leave the area; and the local residents can stop subsidizing the professional sport stadiums.

[robviviano]

I'm sure someone else pointed it out, but Jeff bezos actually is a native Florida man. He's from Miami. I think he was born in a different state, but spent his entire childhood in Kendall until he left for college.

[andyt]

West Palm Beach (3rd on that billionaire vacation list) was a working class city but large parts of it beautiful tree lined streets are now uber expensive and trendy for the so called nouveau riche. My humble bungalow there has skyrocketed in value.

[dirtycommie]

Personally I'm not interested in living in any place that touts itself as a "billionaire's playground." And especially not at a place that's slowly being reclaimed by the ocean.