Larry Page and Sergey Brin’s Miami shopping spree is no longer just a vibe. Fortune reports they now own around $225 million in Miami real estate, and at the same time Google is expanding there too, with Alphabet quadrupling its office space in Miami this year.

Alphabet’s new lease would expand its footprint to around 45,000 square feet, according to reporting from Bloomberg, at 1450 Brickell Avenue. That’s up from roughly 10,000 square feet the company already owned in the city’s financial district. And it is not a bare-bones office: the space is described as having a fitness center, rooftop terrace, and panoramic views of Biscayne Bay. For decision-makers, the takeaway is immediate: Miami is not just absorbing wealthy residents, it is becoming a more serious operational hub for top-tier tech employers.

So why Miami, and why now? The source frames the shift around incentives that are easy to understand even if you do not live in a spreadsheet all day: Florida has no personal income tax and a business-friendly regulatory environment. When you pair that with a city that has “a smaller outpost” for Google nearly a decade, the expansion reads like a scaling move, not a trial run. Alphabet’s Miami headcount footprint is still small relative to its other major hubs, but expanding office space fourfold is the kind of signal that usually means leadership expects staying power.

The timing matters too. Fortune connects the office expansion in the spring with the cofounders’ real estate purchases “right around when the company snatched up more Miami office space.” Both Page and Brin are also described as uprooting to Florida as California moves toward a ballot referendum on taxing the assets of the wealthy. In other words, the money and the workplace are moving together, following the same policy gravity.

This is not happening in a vacuum. The source places Miami in a broader migration trend of billionaires relocating to other U.S. tax-haven areas, naming Ken Griffin, Carl Icahn, and Keith Rabois as examples. It also points out that Miami is becoming a hub for unicorn companies drawn by a “business-friendly tax climate, growing talent pool, and influx of wealthy investors.” For executives and board members, that last part is the quiet multiplier: wealth migration often pulls capital, which pulls founders, which pulls hiring, which then pulls more companies. It can look like real estate headlines, until it turns into an operating model shift.

Google is not the only big name changing its footprint in South Florida. The source notes that Griffin and his hedge fund Citadel made a high-profile move when they relocated from Chicago to Miami in 2022, with Griffin saying he shifted the firm’s headquarters seeking a more business-friendly environment. The source also says Palantir relocated its headquarters from Denver to Miami, and that CEO Alex Karp previously cited moving its operations out of Silicon Valley due to “increasing intolerance and monoculture,” wanting to work in a broader cross-section of America. Cofounder Peter Thiel has expanded his South Florida presence as well, opening an office for his venture capital firm Founders Fund in Miami and praising Florida’s lack of a state income tax.

Even outside purely tech firms, the story remains consistent. Private equity giant Blackstone expanded its South Florida footprint, opening a Miami office and increasing its investment activity in the region. Blackstone’s CTO John Stecher is described as citing a desire to be the top pipeline for tech talent and the “world class amenities” of Miami attracting the best talent. The source also includes a 2020 statement from Jennifer Friedman, Blackstone’s former managing director of global public affairs, saying Miami was “a vibrant market with a pipeline of top talent from best-in-class technology programs and a large technology footprint,” and that the office would help diversify the talent pool and grow its technology team.

Now zoom back in on the cofounders’ specific buys, because they help explain why this is more than abstract tax talk. Fortune reports that Brin added a Miami megamansion to his $197 million property portfolio in the past year, including a 7-bed, 8.5-bath estate on Allison Island for $51 million in March. That roughly 10,000-square-foot property is among fewer than 50 homes on the heavily secured, gated island. Page, meanwhile, is described as being less than a 20-minute drive from Brin. Fortune says Page snatched up two waterfront estates in Coconut Grove for an estimated $173.4 million, including a $101.5 million megamansion called Banyan Ridge that spans 4.5 acres and includes 13 bedrooms, 15.5 bathrooms, two primary residences, and a private dock and boat lift right on Biscayne Bay. Page also bought a $71.9 million, seven-bedroom home in Camp Biscayne, described as a roughly 10,400-square-foot waterfront home with eight bathrooms, expansive outdoor entertaining space, and direct bay access.

There’s a pattern here that should matter to any executive deciding where to concentrate corporate real estate, talent programs, and even future hiring strategies. When Alphabet quadruples its Miami office space to around 45,000 square feet and its cofounders simultaneously deepen their Miami wealth footprint, it tells you Florida’s appeal is not just residency. It is infrastructure for work. For companies watching talent mobility and for boards thinking about regulatory and cost exposure, Miami is turning from an anecdote into a competitive variable.