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JPMorgan Chase Chairman and CEO Jamie Dimon speaks from the America Business Forum in Miami, where he was asked about his opinion on the wealth and population migration to Florida.<\/p>\n
A growing number of billionaires, CEOs and major corporations are relocating from blue states to red states, pointing to lower taxes, fewer regulations and a friendlier business climate.<\/p>\n
The trend has picked up in recent years and shows no clear signs of slowing.<\/p>\n
Several well-known companies have recently moved or announced plans to move their headquarters:<\/p>\n
Palantir Technologies <\/p>\n
Palantir Technologies announced in February it is moving its headquarters from Denver to Miami. (Rafael Henrique\/SOPA Images\/LightRocket via Getty Images)<\/p>\n
The tech firm announced in February that it moved its headquarters from Denver to Miami.<\/p>\n
ExxonMobil<\/p>\n
The energy giant said this week it will leave New Jersey and reincorporate in Texas, pointing to the state\u2019s pro-business legal environment after years of legal challenges.<\/p>\n
Public Storage<\/p>\n
The company announced last month that it is moving its corporate headquarters from Glendale, California, to Frisco, Texas, ending a half-century run in California.<\/p>\n
Yamaha Motor Co. <\/p>\n
A general view of Yamaha boats at the marina at the Miami International Boat Show on Feb. 16, 2017 in Miami, Florida. (Alexander Tamargo\/Getty Images for Yamaha Motor Co., LTD)<\/p>\n
Yamaha is relocating its U.S. headquarters from California to Georgia after nearly 50 years in the Golden State, the company announced in February.<\/p>\n
OVER $126M IN 60 DAYS \u2014 FLORIDA REAL ESTATE TYCOONS SAY BLUE-STATE WEALTH MIGRATION IS NOW PERMANENT<\/p>\n
SpaceX and X<\/p>\n
The space company and social media platform relocated their headquarters from California to Texas, Elon Musk announced in 2024, citing policy concerns.<\/p>\n
Tesla <\/p>\n
The Tesla Gigafactory under construction in Austin, Texas, on Feb. 1, 2022. (Thomas Allison\/Bloomberg via Getty Images)<\/p>\n
The Musk-owned electric-vehicle maker officially moved its corporate headquarters from Palo Alto, California, to its Gigafactory in Texas, in December 2021.<\/p>\n
Chevron<\/p>\n
The energy company announced plans in 2024 for the relocation of its headquarters from San Ramon, California, to Houston, Texas.<\/p>\n
Playboy<\/p>\n
Playboy Enterprises announced last year that it would be moving its Los Angeles headquarters to Miami Beach.<\/p>\n
Oracle <\/p>\n
Larry Ellison’s Oracle moved its headquarters out of California to Texas, and a few years later, moved to Nashville. (Andrew Harnik\/Getty Images)<\/p>\n
Larry Ellison’s tech firm announced in 2024 it was moving its headquarters to Nashville, Tennessee. The company previously moved its headquarters from California to Texas in 2020, according to Fortune.<\/p>\n
PROGRESSIVE LAWMAKERS BERNIE SANDERS, RO KHANNA UNVEIL $4.4T WEALTH TAX TARGETING BILLIONAIRES<\/p>\n
Meanwhile, some other companies are expanding instead of fully relocating.<\/p>\n
In-N-Out is expected to open a 100,000-square-foot eastern office near Nashville later this year. (Robert Gauthier\/Los Angeles Times via Getty Images)<\/p>\n
Starbucks recently announced plans to open a new corporate office in Nashville, Tennessee. In-N-Out is also expected to open a 100,000-square-foot eastern office near Nashville later this year.<\/p>\n
The shift also includes high-profile individuals:<\/p>\n
Howard Schultz<\/p>\n
The former Starbucks CEO recently moved to Florida after decades in Washington state.<\/p>\n
Jeff Bezos<\/p>\n
Amazon’s founder announced in 2023 that he was leaving Seattle for Miami.<\/p>\n
Ken Griffin<\/p>\n
The Citadel CEO moved the hedge fund’s headquarters from Chicago to Miami in 2022, citing crime and failed policies in the city.<\/p>\n
Peter Thiel <\/p>\n
Peter Thiel established a new office for Thiel Capital in Miami. (Marco Bello\/Getty Images)<\/p>\n
The PayPal co-founder recently established a new office for Thiel Capital in Miami, according to Business Insider.<\/p>\n
Stephen Ross<\/p>\n
The founder of Related Companies and owner of the Miami Dolphins, relocated from New York to Florida, according to the New York Post.<\/p>\n
Mark Zuckerberg<\/p>\n
The Meta CEO and his wife, Priscilla Chan, have reportedly closed on a sprawling Miami-area estate for a bit less than the original $200 million listing price.<\/p>\n
Sergey Brin<\/p>\n
The co-founder of Google also reportedly closed recently on a $51 million property in northern Miami Beach.<\/p>\n
Elon Musk <\/p>\n
Elon Musk has moved himself and the headquarters of SpaceX and X to Texas. (Gonzalo Fuentes\/Reuters)<\/p>\n
Musk, the world’s richest person, announced in 2020 that he had moved to Texas, according to The Wall Street Journal.<\/p>\n
FLORIDA CHAMBER CEO SAYS HIGH-TAX STATES ARE IN A \u2018DEATH SPIRAL\u2019 AS $4M-AN-HOUR WEALTH MIGRATION ACCELERATES<\/p>\n
Florida, which has no state income tax, has become a major draw for wealthy individuals.\u00a0<\/p>\n
California lawmakers are also considering new taxes aimed at the ultra-wealthy. A proposed 2026 ballot measure would impose a one-time 5% tax on individuals worth more than $1 billion.<\/p>\n
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Florida, which has no state income tax, has become a major draw for wealthy individuals. (Getty Images)<\/p>\n
Critics argue higher taxes could push more businesses and wealthy residents to leave the state.<\/p>\n
FOX Business’ Eric Revell, Kristen Altus, Aislinn Murphy and Michael Dorgan contributed to this report.<\/p>\n
#Exodus #accelerates #tech #titans #companies #flee #blue #states<\/p>\n","protected":false},"excerpt":{"rendered":"
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