Senator Ted Cruz offered a blunt two‑word reaction after an entrepreneur wrote that Mark Zuckerberg's "move to Florida" would deliver a massive financial blow to California.
Replying on X to a post by venture capitalist Chamath Palihapitiya about the Meta founder's reported purchase of a sprawling, almost 2-acre Florida mansion, the Texas Republican wrote simply: "Socialism sucks."
It was not immediately clear if the Meta CEO purchased the South Florida home, reported to be worth between $150 million and $200 million, to relocate from California permanently or to add to his already-extensive property portfolio. This includes real estate in Lake Tahoe, Palo Alto, California, and on the Hawaiian island of Kauai.
Newsweek contacted Zuckerberg via an email sent to Meta for clarification early Tuesday morning and reached out to the Governor of California's office to ask if it shared any concerns about losing high-net-worth individuals over its tax regime.
Newsweek also contacted the California Billionaire Tax Act initiative via email for comment.
The Meta CEO's purchase of a new Florida pad, first reported by the Wall Street Journal (WSJ), has triggered a wave of criticism of California's tax climate and the state's handling of a proposed billionaire tax.
Cruz's comment followed a lengthy post from Palihapitiya, who argued that Zuckerberg's potential departure is part of a rapid collapse in California's taxable billionaire wealth.
According to Palihapitiya: "With Zuck's move to Florida, California's total taxable wealth from billionaires has plummeted to well under $1 trillion from over $2 trillion just a few weeks ago."
He went on to blame state leaders -- particularly Governor Gavin Newsom -- for failing to intervene as a new tax proposal gained attention.
Palihapitiya said a "stupidly written bill, from a fringe union and a handful of socialist academics with an axe to grind," had spooked high‑net‑worth residents who had previously paid "13 percent + in state income tax every year WITH NO COMPLAINTS UNTIL A FEW WEEKS AGO."
He warned that the long‑term consequences would fall on ordinary Californians, writing that "for the rest of time, the lost tax revenues from these folks will have to be paid for by the middle class because they are the only group left in California large enough that you can tax to fill the hole."
The exchange came as the WSJ reported that Zuckerberg and his wife, Priscilla Chan, are purchasing a newly built waterfront mansion on Miami's exclusive Indian Creek island.
Aerial views of the luxury estate show wraparound terraces, a waterfront pool, blue shutters and a private dock.
According to the WSJ, the Meta CEO is the latest tech titan to buy in South Florida as California considers a 5 percent billionaire tax, which would apply retroactively to January 1, 2026. Florida, by contrast, has no state income tax.
Palihapitiya wrote on X: "[Newsom] has forsaken the middle class instead of managing the budget, managing the deficit, eliminating even a portion of California's gargantuan waste and abuse. He could have done any of these things... But he was silent. Now California's budget will implode and he wants to run for President. Insane."
Danny Hertzberg, a Miami real-estate agent at Coldwell Banker Realty, told the WSJ: "The 5 percent tax in California is really driving out people in a major way."
Claremont McKenna College political scientist Jack Pitney said: "It's one of the reasons why Newsom's path to the Democratic nomination is not going to be an easy one.
"He's already facing a (budget) deficit the size of which is uncertain ... and in the years to come, a billionaires tax that could backfire badly."
The California Billionaire Tax Act says on its website: "We're calling on California's billionaires to step up and pay a one-time, 5 percent emergency billionaire tax to prevent the collapse of California healthcare and ensure our state's families can get the care we need. The billionaire tax is a commonsense solution to a looming crisis and will help our state build a strong middle class."
Zuckerberg is expected to move into the Indian Creek property in the coming months, according to a nearby resident.
A neighbor, Irma Braman -- wife of billionaire auto dealer Norman Braman -- told the Journal that Zuckerberg had said he planned to move in by April.
"We're happy to have him," she said.
California lawmakers, meanwhile, continue debating the proposed 5 percent billionaire tax that helped accelerate the recent departures of high‑net‑worth residents.