In Miami, Luxury Thrives on Great Fortunes, Lifestyle, and Tax Advantages

In early March, Mark Zuckerberg, CEO of Meta, and his wife Priscilla Chan completed the most expensive real estate transaction in the history of Miami-Dade County, and one of the costliest in the United States. On the sought-after island of Indian Creek, the billionaire couple acquired a villa under construction for $170 million. The transaction was finalized on March 2, 2026, by The Jills Zeder Group, just as tensions between the United States, Israel, and Iran were beginning to escalate.

The island of Indian Creek nicknamed the “Billionaire Bunker,” offers extremely strict security, ensured by a permanent private police patrol on land and at sea. This level of protection makes it particularly attractive to wealthy figures in American finance and tech, especially during periods of geopolitical tension.

For the first time, the most expensive address in the United States is in Florida rather than California. The latter may soon vote on a bill—the 2026 Billionaire Tax Act—that would impose a 5% tax on the net wealth of billionaires in the state, whereas Florida levies no personal income tax.

According to The New York Times, billionaires have never bought as much in Miami as they do today. In 2025, more ultra-luxury villas were sold there than in any other city in the world. Since 2020, the value of luxury real estate has risen sharply (by an average of 8% per year). Before the pandemic, no home sold for more than $50 million; since 2025, such transactions account for around 7% of the market by value, according to the American newspaper. This trend could intensify further if its major competitor, Dubai, were to see its real estate market slow down following Iranian strikes.

On the tourism front, Miami recorded a record number of visitors in 2024 (over 28 million), generating nearly $2.2 billion in local and state tax revenues. A large share of this traffic is attributed to business tourism, with visitors attending meetings, conferences, and major events. Another portion is driven by the city’s flagship cultural and sporting events, such as the Latin GRAMMYs, Art Basel, the Miami Beach Formula 1 Grand Prix, and the Calle Ocho Music Festival.

These figures are expected to rise further, as Miami will host the 2026 FIFA World Cup between June and July. Seven matches will be played at Hard Rock Stadium, including the third-place match, with up to 30,000 supporters expected each day. Alina T. Hudak, President and CEO of the Miami FIFA World Cup Host Committee, estimates the economic impact for South Florida at $1.3 billion, along with the creation of thousands of jobs in key sectors such as hospitality, transport, and events. “Miami will be ready to welcome nearly one million visitors,” she stated in a press release.