Happy Friday, Miami!
In this week’s update:
➡️ The Miami Hurricanes are headed to the College Football Playoff national championship game after a dramatic 31-27 Fiesta Bowl win over Ole Miss, securing a title matchup at Hard Rock Stadium in January.
➡️ Billionaires are leaving California, and Florida’s rolling out the welcome mat. What’s driving the quiet exodus of the ultra-wealthy? The answer could shift the nation’s financial map.
➡️ A new apartment development has broken ground in Palmetto Bay, adding more residential units as part of the area’s continued growth and redevelopment.
In case you missed it
🎥 Something ABNORMAL Is Happening in The Miami Housing Market
In this video, we're taking a look at something abnormal that is happening in the miami housing market in 2026!
Why Billionaires Are Trading the West Coast for the East
Driving the news: A proposed 5% one-time wealth tax in California has triggered a migration of billionaires, with many top tech figures relocating their assets — and their lives — to Florida, long before the measure even hits the ballot.
Details:
The proposed tax would apply to individuals with net worths over $1 billion.
Though it hasn’t qualified for the 2026 ballot, the financial elite are already making moves.
Larry Page has shifted business entities and bought $173.4 million in Miami beachfront property.
Jan Koum, Reed Hastings, Sergey Brin, and Peter Thiel are also eyeing or expanding their Florida footprints.
Financial advisers are reporting an uptick in trophy home purchases and interest from California-based billionaires.
Why it matters: Florida’s tax-friendly status — with no personal income tax — is proving attractive to billionaires recalibrating their financial futures. As some of the wealthiest leave California, South Florida is positioning itself as a booming hub for investment, tech, and elite real estate, bringing jobs and high-value development to the region.
The big picture: With around 200 billionaires calling California home, even a partial exodus could reshape national patterns of wealth, investment, and innovation. What’s currently a tax avoidance trend could evolve into a full-scale geographic rebalancing of the ultra-wealthy.
What’s next: If the proposed tax gains traction leading up to the 2026 ballot, expect the trend to accelerate, with ripple effects across finance, real estate, and startup ecosystems nationwide.
Real Estate Insights
Best things to do this weekend
Championship Game Weekend: Calvin Harris
A Championship Game Weekend late-night celebration featuring one of the most influential names in electronic music, delivering melodic house and pop-driven dance anthems in a high-energy club setting.
📍 LIV Nightclub at Fontainebleau Miami Beach
📅 Jan 17 | 11:30 PM
🎟️ Starting at $90
MORE INFO→
Disco Lines
A late-night outdoor club performance centered on high-energy, melody-forward house music inside one of Miami’s most industrial dance environments.
📍 Factory Town
📅 Jan 17 | 8 PM
🎟️ Starting at $81.20
MORE INFO→
Miami Heat vs. Oklahoma City Thunder
An exciting NBA matchup as Miami looks to defend home court against Oklahoma City’s fast-paced, young roster.
📍 Kaseya Center
📅 Jan 17 | 8 PM
🎟️ Starting at $79
MORE INFO→
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Have a great weekend!!
-Joe
