A Miami real estate broker has adopted an unconventional strategy to entice affluent Californians to relocate to Florida. Dina Goldentayer, a broker with Douglas Elliman, has unveiled a massive billboard in Los Angeles targeting wealthy residents of the Golden State with the slogan: ‘Your wealth is wanted.’
Controversial California Tax Proposal
The advertisement emerges amid ongoing debate over a controversial proposed California law that would impose a five percent tax on the net worth gains of some billionaires. Goldentayer explained the motivation behind the campaign: ‘The idea was based on where the property buyers of $30 million-plus homes are coming from.’ She told the New York Post that the tactic is already yielding results, noting, ‘My California clients think it’s brilliant. They get the humor.’
Florida's Appeal to the Wealthy
Florida has increasingly become a magnet for wealthy transplants from states like California and New York, fueling a luxury real estate boom across the southern part of the Sunshine State. Goldentayer remarked, ‘What the California government is doing to drive out its wealthiest residents is outrageous, but it's benefiting us.’ She added, ‘California doesn't want to treat its wealthy people well. This whole billionaires' tax thinking is that the billionaires aren't going to outsmart the municipal government, and that is just poor tactical strategy … we welcome them with open arms because Florida rewards ultra-high-net-worth individuals who are domiciling in its state.’
Migration Data Supports Trend
The migration trend is backed by years of tax and relocation data. According to IRS migration data analyzed by Realtor.com and reported by Visual Capitalist, Florida gained roughly $21 billion in wealth from interstate moves in 2023, more than the next five states combined. California, meanwhile, lost nearly $12 billion in adjusted gross income from residents leaving the state. A separate Fortune analysis found Florida absorbed roughly $137 billion in net income flows from interstate migration between 2019 and 2023, while California lost about $91 billion over the same period. California has also continued seeing major domestic outmigration in 2025, with estimates showing roughly 229,000 residents leaving for other states.
Tax Advantages and Notable Moves
Analysts at the Tax Foundation noted that wealthy movers are especially drawn to Florida because it has no state income tax, while California's top income tax rate remains among the highest in the nation. Several billionaire tech figures have purchased homes in Florida in recent years, including Google co-founders Larry Page and Sergey Brin, Meta boss Mark Zuckerberg, and Palantir chief executive Alex Karp. The influx of wealthy newcomers has helped fuel Miami's emergence as a major destination for finance and technology firms, with some executives branding the city ‘Wall Street South.’
Criticism and Local Impact
Critics argue that the luxury boom has also worsened affordability for longtime Florida residents as home prices continue to climb. A recent Florida Atlantic University poll found roughly half of Floridians have considered leaving the state because of rising living costs and housing affordability concerns.
