Starbucks Billionaire Expatriates Over Millionaire Tax, Sips Sunshine in Miami
KEY POINTS
- ā¢Howard Schultz announced his move from Seattle to Miami on LinkedIn after Washingtonās House passed a millionaireās 9.9% tax.
- ā¢Google cofounders Larry Page and Sergey Brin recently bought Miami homes for $180 million and $50 million, respectively.
- ā¢Meta CEO Mark Zuckerberg set a Miami record with a $170 million home purchase on Indian Creek amid proposed California wealth taxes.
Howard Schultz, Starbucks ex-CEO with a $6.6 billion mug full of cash, gave up Seattle's drizzle after 44 years to enjoy Miami's 365-day iced latte weather. His family office is packing bags quicker than you can say 'millionaire tax'āwhich landed ominously as Washington's House approved a 9.9% tax on incomes above $1 million. Not to be outshone, tech giants like Google co-founders Larry Page and Sergey Brin dropped $180M and $50M on Miami real estate, with Meta's Mark Zuckerberg breaking records by shelling out $170M for Indian Creek. Meanwhile, Miami's luxury market is overheating faster than Schultz's espresso machines, as founder Ana Bozovic proudly notes, 'The market ceiling keeps rising,' thanks to a billionaire influx fleeing California's proposed 5% net worth tax. Talk about brewing up a storm of tax-fueled real estate mania!
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(1 of 3)When billionaires flee states because paying taxes might cramp their latte habits, Miami real estate turns into the hottest Starbucks franchiseābut instead of coffee, it's served with yacht docking fees.
Washington passes a 'millionaire tax,' and suddenly Seattle is thirstier for coffee than billionaires are for lower taxes. Miami's pool parties thank you.
From Starbucks to sunshine: Schultz prefers palms and tax palm-fronds over rain and rainy-day fund contributions.
Source: Businessinsider | Published: 3/11/2026 | Author: Madeline Berg
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