Google co-founder Larry Page has orchestrated one of the most significant real estate maneuvers of 2026, acquiring two landmark estates in Miami’s ultra-exclusive Coconut Grove for a combined $173.4 million. The move is widely viewed as the centerpiece of a strategic exit from California, executed just days before the state’s proposed billionaire wealth tax deadline.
Page, currently the second-richest person in the world with a net worth of approximately $276 billion, closed both deals through the Tropical Frontier Revocable Trust between late December 2025 and early January 2026.
The $101.5M Waterfront Sanctuary: Banyan Ridge
On December 29, 2025, Page finalized the purchase of Banyan Ridge, a 4.5-acre compound that served as his primary play for Florida residency.
- The Legacy: Previously owned by the late restaurateur Jonathan Lewis, the estate was originally listed for $135 million. Page secured a nearly $34 million discount.
- The Layout: The 11,800-square-foot compound features 13 bedrooms and 15.5 bathrooms spread across multiple structures, including a 1920s Mediterranean villa designed for former Secretary of State William Jennings Bryan.
- Waterfront Luxury: While the main acreage is a “gated sanctuary” of tropical gardens, the estate includes direct Biscayne Bay frontage and a private boathouse.
The $71.9M Modernist Marvel: Casa Bahia
Just days later, Page closed an off-market deal for Casa Bahia, a 17,000-square-foot contemporary masterpiece located less than a mile away.
- The Seller: Purchased from heiress Sloan Lindemann Barnett and husband Roger Barnett, who bought it for $45.9 million in 2021—netting them a $26 million profit in under five years.
- The Design: Built in 2015, the home is a “floating” structure of glass and steel, designed to blur the lines between its 7-bedroom interior and the lush Biscayne Bay coastline.
The “Billionaire Exodus” and the 5% Tax
Page’s relocation isn’t just about the sunshine; it’s a high-stakes financial hedge. California’s proposed 1-time 5% wealth tax on billionaires (targeting those with assets over $1 billion) would apply to anyone residing in the state as of January 1, 2026.
- The Stakes: For Page, whose wealth is north of $270 billion, remaining a California resident could have triggered a tax bill exceeding $13 billion.
- Corporate Pivot: Beyond real estate, Page moved his family office, Koop LLC, and his research fund, Flu Lab, to Delaware in late December. His flying-car venture, One Aero, was officially transferred to Florida.
The “Walkability” Factor
Coconut Grove has recently outperformed traditional hotspots like Palm Beach due to its unique “village” atmosphere.
- The Appeal: Elite buyers are increasingly drawn to the neighborhood’s walkability, particularly its proximity to Cocowalk.
- The Market: Local experts note that homes once valued at $10 million are now commanding $30 million+ because residents value the ability to walk to artisan boutiques and luxury cinemas over the isolated compound lifestyle.