The Billionaires

For decades, South Florida was where America’s wealthy went to relax — highlighted by second homes and tourism. 

Now, it’s where the (extremely) rich and powerful go to reign. And the transformation is unmistakable, shifting the region’s real estate reputation and clobbering the attention of investors who previously might’ve passed on Miami and other South Florida locales in favor of New York City, Los Angeles, the Bay Area or even Chicago. 

Yes, three billionaires make a trend, which can quickly elevate to an “era.” That means the past year for South Florida has felt more like a predestined coronation.

Earlier this year, Facebook co-founder Mark Zuckerberg agreed to pay roughly $170 million for a waterfront estate — one of the largest residential deals in Miami history — placing him a few doors down from Amazon’s Jeff Bezos. A little while before Zuckerberg’s purchase, Google co-founder Larry Page spent even more than $170 million on waterfront property nearby.

The entry of a number of billionaires to South Florida is helping reshape the region in concrete ways, too, not just via a vibe shift. Think Ken Griffin and his Citadel office space in Miami. Or Zara founder Amancio Ortega’s buying spree throughout the region, or Palantir CEO Alex Karp (pictured left with Bezos and Zuckerberg) moving the firm’s HQ to Miami.

More than a couple of honorees on this Power South Florida 2026 said that Bezos’s decision to site not only himself but his Amazon in the region helped drive Miami-area office rents to historic heights (see Page 32). Speaking of driving profound change: Stephen Ross, who made his billions farther north in New York, has reshaped West Palm Beach commercially and residentially — and education-wise with a Vanderbilt satellite campus — for generations to come.