Facebook founder and Meta CEO Mark Zuckerberg is expected to become the latest billionaire to relocate from California to Florida and join its elite "billionaire bunker" as the state legislature hopes to levy a 5% tax on the mega-wealthy. 

Zuckerberg and his wife, Priscilla Chan, are reportedly in the process of buying a newly built mansion on Indian Creek in Miami, which is considered one of the area’s most expensive enclaves, according to Fox Business.

The nearly 2-acre property is estimated to be worth $150 million to $200 million, the outlet reported, and aerial views of the property reveal that it sits on Biscayne Bay and features a private dock, wraparound terraces and a waterfront pool, among other elaborate amenities.

The estate adds to Zuckerberg's already lucrative real estate portfolio in cities like Lake Tahoe and Palo Alto in California, and Hawaii's Kauai island.

The move would follow other California billionaires who also moved to Florida in recent years, including Amazon's Jeff Bezos, PayPal co-founder Peter Thiel and Oracle's Larry Ellison over the highly anticipated wealth tax.

The wealth tax initiative does not yet have the necessary 875,000 signatures it needs to qualify for the November ballot, but the proposal would impose a one-time 5% tax on the net worth of California residents with assets exceeding $1 billion.

Misty Severi is a news reporter for Just The News. You can follow her on X for more coverage.