Google co-founder Larry Page has quietly completed a massive real estate purchase in Miami, spending $173.4 million on two waterfront mansions in the exclusive Coconut Grove neighborhood. The transactions, finalized in late December and early January, add to a growing trend of billionaires relocating from high-tax states like California to more favorable jurisdictions.
This move isn’t just about luxury; it’s happening as California prepares for a potential new billionaire tax. Page, currently the world’s second-richest person with an estimated net worth of $276 billion, appears to be making a strategic financial decision by establishing a footprint in Florida.
The Banyan Ridge Estate: A $101.5 Million Compound
The first purchase was Banyan Ridge, a sprawling 4.5-acre waterfront property acquired for $101.5 million. Originally assembled in the 1980s by restaurateur Jonathan Lewis, the estate consists of eight interconnected structures designed for maximum privacy and seclusion.
Features include:
– Meditation gardens
– Secluded courtyards
– Expansive terraces
– An infinity-edge pool
– A private boathouse
This purchase ranked as the fourth most expensive home sale in the U.S. in 2025, according to Redfin.
Casa Bahia: A $71.9 Million Modern Oasis
Just days later, Page added Casa Bahia to his portfolio, paying $71.9 million in an off-market deal. The 17,000-square-foot contemporary mansion, sold by heiress Sloan Lindemann Barnett and her husband Roger Barnett, offers water frontage on two sides with direct access to Biscayne Bay.
Built around 2015, Casa Bahia is designed to blend seamlessly with its tropical surroundings. Marketing materials describe it as “a modernist dwelling that appears to hover over the surrounding greenery and water,” creating an immersive indoor-outdoor experience.
The broader significance: Page’s moves reflect a growing trend among the ultra-wealthy to avoid high state taxes. Florida, with its lack of state income tax, has become a magnet for those seeking to protect their fortunes. This migration not only impacts state revenue but also shifts economic power away from traditional hubs like California.
“These purchases are less about luxury living and more about strategic financial positioning. The tax implications are clear: billionaires are moving where their money is best preserved.”
