Source: Fortune
Summary
Indian Creek Island, a 300-acre manmade strip of land in Biscayne Bay, is home to some of the world’s wealthiest individuals, including Mark Zuckerberg, Jeff Bezos, and Ivanka Trump. The island’s 40 lots of waterfront property come with a price tag of at least $60 million, and the country club’s 18-hole golf course requires a $500,000 initiation fee. The island’s exclusivity and security, including a private police force and marine patrols, make it a desirable location for the ultra-rich. With only 84 residents as of 2020, Indian Creek Island is one of the most exclusive enclaves in America.
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The strategy enters a familiar phase.
Indian Creek Island’s exclusivity and security come at a price, with properties starting at $60 million and a $500,000 initiation fee for the country club. The island’s private police force and marine patrols ensure that only authorized visitors can enter. Mark Zuckerberg’s recent purchase of a mansion on the island for between $150 million and $200 million is just the latest example of the ultra-rich flocking to this exclusive enclave. The island’s western side, where Zuckerberg and Bezos own properties, offers an even more seclusive experience. As the proposed 5% billionaire wealth tax gains traction in California, Indian Creek Island may become an even more attractive option for the ultra-wealthy looking to escape high taxes.
The price of exclusivity is not just financial, but also social.
Author: Evan Null
