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Mark Zuckerberg's $170M Miami home next to Jeff Bezos' mansion has a catch
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Multi-billionaire Mark Zuckerberg has splashed out on a nine-figure Miami mansion, but he won't be moving there anytime soon.
In case you forgot how rich the Facebook founder really is, look no further.
The Meta CEO turned heads in March when he made one of the most expensive real estate purchases in the city, dropping $170 million on a mansion on an island known as 'Billionaire Bunker'.
Zuckerberg's waterfront property would make him neighbors with fellow billionaire and Amazon CEO, Jeff Bezos.
Located on Indian Creek Island, the home has features that make it look more like a five-star luxury resort than a home.
However, despite the lavish purchase, Zuckerberg will not be able to make the house his primary residence.
Mark Zuckerberg can't join the 'Billionaire Bunker'
Indian Creek Island is home to some of the richest people in the US, with the area of luxury properties being patrolled closely by security.
It's been reported that Bezos has acquired three properties on the island, for a combined worth of $234 million.
The likes of Tom Brady, Ivanka Trump, and David Guetta own properties in the uber-wealthy neighborhood, and Zuckerberg is the latest on the list.
According to The Wall Street Journal, the 42-year-old has agreed to remain a resident of California for the next eight years, as per an agreement with Meta's board.
They report that the agreement between Zuckerberg and the board is conditional on him continuing as the company's CEO or executive chair, with the exception of material unforeseen circumstances.
So while the billionaire isn't banned from visiting his mansion, he can't switch his primary residence to Florida.
Details of the Miami mansion
Zuckerberg's $170 million capture marked the single most expensive residential sale in Miami-Dade County.
Despite being listed for $200 million, the deal for the 28,000 square feet property was sealed for $30 million less.
With nine bedrooms, the home also features plans for a swimming pool, private dock, gym, hair salon, and massage room.
There's also a 1,500-gallon aquarium, with the mansion set to have a library that includes a concealed passageway.
Zuckerberg and his wife Priscilla Chan's estate takes up around two acres of waterfront land, but they'll have to wait to enjoy the property year-round.
California’s proposed wealth tax
California Proposition 40, a tax targeting billionaires, has been proposed, and the state's voters will have their say on it on November 3.
The proposal would introduce a one-time five percent tax on the net worth of qualifying billionaires who were living in California on January 1, 2026.
While Zuckerberg considered leaving his California home, which he spent a sizable amount renovating, work commitments may not allow it.
Meta wants to keep it close to its Menlo Park headquarters, as well as its growing AI operations.
The company plans to have a new class of nonvoting shares that Zuckerberg can sell to raise money, while maintaining his voting control.
It means that Zuckerberg will be able to access funds without sacrificing his power and influence at Meta, while the company gets his commitment to stay in California for the next few years.