California billionaires flocked to Florida ‘within seven days’ to escape

EXCLUSIVE: The realization hit fast — and the response was even faster.

As California’s proposed “billionaire tax” began gaining momentum late last year, some of the wealthiest people in the country didn’t wait for ballots, lawmakers or court challenges — they moved. “Then a couple more flew into Miami, bought properties and closed within seven days,” luxury real estate broker Julian Johnston of The Corcoran Group told Fox News Digital. “So then it was a tipping point.”

According to Johnston — who told Fox News Digital that he’s currently working with three billionaires to move them from California to South Florida — the urgency was driven by staggering potential losses.

“One client said, ‘You know, this could be like a $5 billion tax for me,’” he recalled. “So they’re moving because of that.”

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The chatter all started at Miami’s high-profile Art Basel fair in early December, Johnston said, and carried into many of the ultra-wealthy’s holiday celebrations on the island of St. Barts.

California billionaires are leaving the state at a fast pace, The Corcoran Group’s Julian Johnston exclusively tells Fox News Digital. (Getty Images)

“They’re all dining and wining together and talking about this proposed tax. And then when the proposed tax gained speed, they then understood that they had to either rent or purchase something out of California to establish residency and reduce their net worth exposure to the proposed billionaire tax,” he explained.

“It’s a melting pot and they’re all friends. And that’s the thing. The tipping point was when four or five of them bought and three more were going into contract. The rest of them, all their friends are here. And they talked about the office buildings as well.”

“I think this happened very quickly, even for them,” Johnston continued. “Now that it’s… January, into 2026, it has slowed down a little bit… So if you didn’t buy or rent before the end of the year, it may be too late. It may apply to you no matter what now.”

While it has not yet qualified for the November ballot, the proposal — backed by the Service Employees International Union–United Healthcare Workers West — would impose a one-time 5% tax on the net worth of California residents worth more than $1 billion. The tax would be due in 2027, and taxpayers could spread payments over five years, with additional costs, according to the Legislative Analyst’s Office.

If the measure is approved by voters, anyone who was a California resident on Jan. 1, 2026, would owe…