U.S. News
Billionaire bonanza: How an exclusive Florida island became a haven for the mega‑rich
By Jake Beardslee · January 4, 2024
In brief…
- Indian Creek Village has seen an unprecedented influx of billionaire wealth, with homes selling for $100 million+
- Jeff Bezos recently bought two properties for $147 million that he plans to tear down and rebuild
- The island offers privacy and security with guarded entrance and few businesses besides a luxury golf club
- Migration of the ultra-rich to South Florida accelerated during the pandemic
The exclusive Florida island of Indian Creek Village has become ground zero for an unprecedented influx of wealth, with billionaires snapping up luxury properties at astronomical prices. Located off the Miami coast and accessible only via a single guarded bridge, Indian Creek is attracting the ultra-rich seeking privacy and seclusion.
Recent purchaser Jeff Bezos, the world’s second richest person, bought two mansions for $147 million that he plans to tear down for custom rebuilds. Real estate agent Dina Goldentayer told Bloomberg “This is all post-Covid, and it was quite different before. About seven years ago, there would be five or six listings at the same time and $20 million was a big sale.” Home prices are rapidly escalating, with renovated properties starting at $100 million.
Other billionaires owning homes in Indian Creek include Carl Icahn, Jaime Gilinski, Ivanka Trump and Tom Brady. The influx of wealth has essentially gentrified the island, pricing out the merely affluent. The island offers privacy and security, with a single guarded entrance and no businesses besides a luxury golf club. Owners cite privacy as the main appeal.
While South Florida has long attracted the wealthy, the concentration of mega-rich residents is new. The pandemic accelerated the migration as hedge funds and money managers relocated. Areas like New York’s Upper East Side saw an exodus to warmer locations including Miami. But Indian Creek has become an ultra-exclusive hub for the top 0.0001%.