Where do the billionaires live in Miami?
Miami is the quintessence of extravagance, opulence, and the lifestyle which entices the richest of the rich across the globe. The city’s decade-long reputation as a billionaire magnet has only strengthened, and global business leaders, celebrities and tech moguls have flocked to Miami to make it their home. But where exactly do these billionaires end up living? For this deep dive, we’ll go beyond the tourist-glossed facade of sunny Miami to reveal the neighborhoods and mansions behind the scenes, the enclaves that have been the most popular destinations for the city’s ultra-wealthy to set their suitcases down, what makes each unique, and what about the city they’re changing.
Why the Mega-Rich Love Miami
But before we nail down exactly what neighborhoods, let’s first explore why billionaires are flocking Miami. Combined with their year-round sunshine and a lack of state income tax, it’s clear why the city is attracting a growing mix of businesses and arts and culture too. These are some of the factors, contrasted with a few of the world's best amenities and security that make Miami a tempting place for those who seek out both luxury and physical security.
The Richest Neighborhoods
Exclusive Neighborhoods Miami boasts numerous ultra-exclusive luxury neighborhoods, all with their distinctive brand of luxury, security and prestige. Here are the most sought-after addresses among the city’s billionaire residents.
Indian Creek Island
“Billionaire Bunker” Profile of community Members of this reclusive and ultra-exclusive island in Miami, where some of the world's richest people live, want to keep it that way.
Indian Creek Island the place often referred to as “Billionaire Bunker,” may be the most exclusive and expensive neighborhood in Miami. This private island, home to a little more than 40 residences, is bordered by Biscayne Bay and guarded by its own police force and a private golf club. Indian Creek has recently received even more attention thanks to high-profile residents such as Jeff Bezos (who owns three homes on the island), and Tom Brady and Ivanka Trump’s family.
Homes here commonly go for tens of millions, with a recently empty lot offered for $200 million. The island is unparalleled for its privacy, security and exclusivity, it is the ultimate address for the ultra-wealthy.
Fisher Island
A Place Where Seclusion and Opulence Meet This 3,793-square-foot apartment on Fisher Island, a private island off the tip of Miami Beach accessible only by ferry, is full of architectural and design details that turn an already luxe setting into a borderline fantasy.
Served by ferry, private yacht or helicopter only, Fisher Island is another go-to location for billionaires hoping to enjoy some privacy as well as a touch of luxury. Its real estate is among the most expensive in the nation, with waterfront condos and estates selling for more than $2 million, from $2 million to more than $50 million34. There are private beaches for those living on the estate as well as a championship golf course, deep-water marina and exclusive spa. Celebrities, business tycoons, and international elites flock to Fisher Island for its privacy and amenities.
Star Island: Celebrity Magnet
Star Island — a man-made island that sits in Biscayne Bay — is well known for its famous residents and over-the-top mansions. Homes here can top $70 million, and the island is synonymous with tight security and privacy. Prominent inhabitants have included Gloria Estefan, Shaquille O’Neal and Will Smith. Star Island Part of the reason why Star Island is a super-rich favorite is its close to Miami Beach, as well as its luxury amenities.
Miami Beach: North Bay Road, South of Fifth and Beyond
Miami Beach is not only a tourist destination, but it is also residence to the richest residents in the city. North Bay Road is an enclave of waterfront mansions and the South of Fifth (SoFi) neighborhood, an ultra-luxury high-rise and penthouse district. These are the kind of neighbourhoods with private docks — side by side with the beach, and all with world class night life that billionaires and celebrities love.
Coral Gables: Tradition of Elegance
Today, Coral Gables, or “The City Beautiful,” is celebrated for its Mediterranean-style estates, tree-lined streets and gated communities such as Gables Estates and Cocoplum. High-end homes here frequently top $30 million, and the area is a go-to for business leaders and professional athletes looking for privacy and peace4.
Brickell The Financial District
Brickell, Miami’s financial center, is drawing young billionaires and international investors. The neighborhood is home to luxury condominiums, five-star hotels and exclusive rooftop bars. Close to business centers and amenities, making it a perfect residence for those who want to work and play in the city’s most exciting district.
Coconut Grove: Tropical and Posh The Grove: Lush and Laid-Back
Coconut Grove is Miami’s oldest neighborhood and is home to lush foliage, waterfront menses and a bohemian attitude. Although it's more relaxed, it's another favorite among affluent families and business executives who appreciate the sense of privacy and community.
What You’ll Find What Makes These Neighborhoods Stand Out
One sign that sets Miami’s wealthiest neighborhoods apart:
Waterfront Locations: There are several billionaire enclaves situated along the ocean or the bay with magnificent views, private docks, and easy boat and yacht access.
Unsurpassed Privacy and Security: Gated Enclaves, Private Islands, Security Forces protect and isolate residents.
Luxury Amenities: Private golf courses, yacht clubs, world-famous spas and top-tier schools, whatever your heart desires.
Prestige and Social Scene: The richest homeowners, celebrities and some of the most influential people in the world choose to live in the same neighborhood as you.
Scarcity of property and exclusivity: There are few properties to go around in most places, and that scarcity helps drive prices up and competition high — intensifying exclusivity.
Who Lives in Miami’s Billionaire Buildings?
Miami’s billionaire lineup is a who’s who of global business and culture. The largest of them include:
Jeff Bezos: The Amazon founder has also scooped up multiple homes on Indian Creek Island, once again expanding records for local real estate.
Ken Griffin: The hedge fund titan has had a power dynamic with Miami for years and had a contentious divorce record there, but has made repeat forays into Miami real estate in yet another sign of the city’s rising status as a financial gravity hole.
Thomas Peterffy The electronic trading pioneer’s investments underscore Miami’s attractiveness to technology and finance leaders.
Jorge Pérez: As the “Condo King,” Pérez’s developments have literally shaped the luxury altar of the Miami skyline.
Micky ArisonCarnival Corporation chairman and Miami Heat owner, Arison is a leading figure in the Miami business and sports.
Notables: Norman Braman (auto dealerships, art patron), Jeffrey Soffer (real estate), and Phillip Frost (pharmaceuticals), all from Miami.
How Billionaires Are Changing Miami
The bloat of billionaires is changing Miami in multiple ways:
Boom in Real Estate: Unprecedented sales and new luxury construction have transformed the Miami skyline and real estate market.
The Renaissance of the Arts Philanthropy to museums, art fairs, and cultural events has helped make the city’s culture vibrante.
A Boost to the Economy: Billionaires are going to invest in what Miami has to offer, including building companies, jobs and the world stage, further solidifying Miami as an international city.
If you’re intrigued by the world of Miami’s elite and craving some more inside scoop on their neighborhoods and lifestyles, head to our site for additional vanguard guides and insider views.
Living Like a Billionaire in Miami
Although the seclusion of these enclaves ensures that most can only dream from a distance, there are ways to get a peek at the billionaire life:
Luxuriate in Luxury Hotels: Some swanky hotels provide the same sort of perks and pleasures as partying with the one percent in Miami.
Discover Fine Dining and Shopping: In Miami there is no such thing as dress down Friday–our coolest restaurants and boutiques want everyone to look their best!
Go to Art and Social Events: Art fairs, galas and charity events bring the city’s best and brightest out.
For those who are considering relocation, or investment, into the Miami luxury real estate market discover our services bespoke advice and access to all the finest developments in Miami.
Why Miami Is Here to Stay as a Billionaire Haven
The combination of tax breaks, warm weather, a global hub and luxury amenities keeps Miami firmly in the rich’s spotlight. The more business people and celebrities that move to the city, the more it will become known as the billionaire haven.
If you’re just fantasizing about the opulent lives around you or hoping to rub elbows with Miami’s richest residents, the Miami area’s most exclusive neighborhoods provide a peek inside their world. For more in depth reads and the latest news about what is happening in Miami be sure to visit our website and and stay connected to the pulse of the Magic City.
