Posted on 06/22/2026 11:17:06 AM PDT by Libloather
A massive exodus out of California is expected to happen after SpaceX’s historic and OpenAI’s confidential IPO, unleashing an unprecedented wave of tech millionaires to Florida.
Following SpaceX’s IPO on June 12 that set the company’s valuation above $2 trillion and made Elon Musk the world’s first trillionaire, around 4400 SpaceX employees also became millionaires.
“The California area codes have already started showing up. It’s just that the conversations are evolving,” Fort Lauderdale Downtown Development Authority CEO and President Jenni Morejon said to Fox News.
“The wealth doesn’t hide here… and I really think what we’re seeing now with AI founders, with the era of liquidity, with SpaceX, is a generation that’s used to speed and being very public,” she continued on.
In December, Google’s co-founder Larry Page spent $173.4 million on two homes in Miami and Meta CEO Mark Zuckerberg followed suit just months later, dropping $170 million on a Miami mansion in March.
Other prominent tech billionaires such as Palantir co-founder Peter Thiel and Amazon founder Jeff Bezos have also officially left the Golden State to protect their fortunes.
“There is going to be this transitional event with the IPO where executives are finally gonna see probably the biggest cash day most of them have ever seen in their lives. And many of them are not making millions, they’re making tens of millions overnight,” said Joe DaGrosa, the Chair of DaGrosa Capital Partners.
(Excerpt) Read more at nypost.com ...
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Great to see...NYChitty also screwing themselves!!
‘Y’all Street’ mayor rips Mamdani over his Wall Street-bashing rhetoric: ‘best thing ever to happen to Dallas’
https://freerepublic.com/focus/f-news/4384864/posts
“Well, that just shows how greedy they are” - Some lib.
Ouch.
NYC voters are fed up with the Democratic Party and want to clean house, stinging new poll says
Florida is going to sink into the Gulf with all those people down there.
These 170 million dollar homes are built like bomb shelters/bunkers.
They can withstand a direct hit.
Plus, when you area billionaire, you can always live in one of your other houses or yachts while that on eis being repaired.
Not to mention, FLORIDA is only their primary residence for no income tax reasons.
The same thing is happening here in NH. Houses along the ocean selling for $20 million. With $70K in property taxes.
But ZERO income taxes.
There is someone building a house across the road from mine. It is on 27 acres. They spent $750K on the land to build it on. Then spent four months on excavation. It is a young couple with two kids. How did they get so rich?
Read the article- they want to go from bad to worse....its beautiful!!!
“Half of Democratic voters polled in the 5 Borough Barometer survey, conducted by the Honan Strategy Group, signaled that electing a new generation of younger, more progressive members who will challenge the party establishment is a top priority”
Lottery. Can’t win if ya don’t play.
I suspect that build quality and the means to leave on a private jet at a moment’s notice takes care of that.
I drove by this one yesterday:
The property taxes are $71K annually.
It is under agreement for $20MM
Giant. I can’t afford to cut the grass.
I would guess that the asking prices are way over stated with sellers hoping to get a few points over their current mortgage after allowing themselves to be ‘negotiated’ down. Sellers gotta give themselves some room to work.
They’re running out of other people’s money.
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