In just the first two months of 2026, four companies have relocated their headquarters to South Florida—and in each case, their top executives had already made personal moves to the region, according to a Bisnow analysis.
“A lot of this is tied to high-net-worth individuals buying homes in Miami, often for tax reasons, and then deciding, ‘I want my office here too,’” said Brandon Charnas, co-founder of Current Real Estate Advisors.
South Florida’s luxury real estate market is booming alongside this shift. In 2025, the region saw a record number of condo sales above $20M, with Miami leading the nation in ultra-luxury transactions. That momentum has only accelerated in 2026.
Tech leaders are among those driving the trend. Google co-founders and Meta CEO Mark Zuckerberg have spent tens of millions on Miami-area properties this year. Meanwhile, a proposed tax targeting billionaires in California is pushing more wealthy individuals toward Florida.
This influx of wealth is doing more than boosting real estate—it’s also attracting companies, talent, and investment. Between 2020 and 2025, more than 74 companies moved their headquarters to Florida, more than any other state, according to JLL.
One example is Trinity Investments, which relocated from Hawaii to Coconut Grove in Miami. CEO Sean Hehir had already moved to the neighborhood in 2023. Initially working out of his apartment, he later leased office space nearby and eventually expanded as the company grew.
“It made sense to make this our official headquarters,” Hehir said, noting he never seriously considered locations outside Coconut Grove.
One of the most high-profile relocations came from Palantir Technologies, which recently announced it had moved its headquarters to Miami. The company now operates out of a coworking space in Aventura. Its chairman, Peter Thiel, has owned property in Miami Beach since 2020, and several of his investment firms already have offices in the city.
“When one company makes the move, others start to take notice,” said Dan McGowan, South Florida brokerage lead at JLL. “They start asking, ‘Why are they going to Miami? Should we consider it too?’”
Canadian firm GFL Environmental also moved its executive office to Miami Beach in February. CEO Patrick Dovigi now considers Miami his primary residence after relocating during the pandemic. Similarly, quantum computing company D-Wave announced it would move its headquarters from California to Boca Raton. Its CEO, Alan Baratz, is already based in South Florida. Experts say these decisions are often personal as much as financial.
“Where you locate your company can be an emotional choice,” said Laura Kozelouzek, CEO of Quest Workspaces. “The economics support it, but the personal factor often comes first.”
Florida’s appeal is longstanding—warm weather and no state income tax—but recent pro-business policies have strengthened its position. These include eliminating taxes on commercial leases and reinforcing noncompete agreements, in contrast to stricter regulations in states like California and New York.
The trend gained national attention in 2022 when Ken Griffin moved his hedge fund Citadel from Chicago to Miami. That year, 21% of Miami office leases were signed by companies new to the market. Although that surge slowed in later years, the migration of wealthy individuals continued.
Jeff Bezos, for example, relocated to Miami in 2023 after purchasing properties on Indian Creek. Amazon has since expanded its office footprint in the area.
More recently, a proposed 5% tax on California billionaires has intensified the movement. If approved, the tax would take effect in 2027, prompting many to reconsider their residency now. In early 2026, Larry Page purchased two Miami mansions for $173M, while Mark Zuckerberg bought a $170M estate in Indian Creek.
Local business leaders are actively encouraging more relocations. Stephen Ross and Ken Griffin have jointly pledged $10M to a campaign aimed at attracting out-of-state executives to Florida. Both have major office developments underway and are eager to fill them.
“They want more companies to join them,” said Colliers associate Zachary Smith. “The more businesses that move here, the more growth they’ll see in their own investments.”
The trend shows no signs of slowing. Former Starbucks CEO Howard Schultz recently purchased a $44M penthouse in Surfside and announced plans to relocate to Miami after decades in Seattle. His family office will follow.
As Smith put it, the movement is becoming self-reinforcing: “If all your peers are moving to the same place, it’s natural to want to be part of it too.”
Source: Bisnow
