"Billionaire's Beach" in Florida is home to 58 billionaires, including Donald Trump, Ken Griffin, Julia Koch, and Stephen Schwarzman. The wealth of these Palm Beach homeowners totals about $494.7 billion—attracting the world’s 1% with pristine beaches, unparalleled privacy, tax breaks, mega-ma nsions, and exclusivity.  Florida has become the mecca of America’s wealthiest—with many of the world's richest individuals flocking to one oceanside town, dubbed “Billionaire's Beach,”  where you can rub shoulders with the likes of Ken Griffin and Donald Trump. Palm Beach is home to a staggering 58 billionaires, drawn to crystal blue waters, Mediterranean-style megamansions with unparalleled privacy, and Rodeo Drive–worthy shopping. Single-family houses in Palm Beach, Florida, U.S., on Wednesday, April 7, 2021. Purchase contracts for single-family houses priced at $10 million or more surged 306% in March from a year earlier, the biggest gain since the pandemic started, appraiser Miller Samuel Inc. and brokerage Douglas Elliman Real Estate said in a report. Photographer: Marco Bello/Bloomberg via Getty Images Many of the richest own property on South Ocean Boulevard—a famous street part of "Billionaire’s Row," lined with towering palm trees and pristine beaches. Properties for sale cost an arm and a leg, with some charging $57.5 million or $38.7 million for an in on the exclusive neighborhood.  One 8-bedroom, 15-bathroom listing is even up for $88 million. Palm Beach, Florida, USA - March 15, 2014: Wonderful mansion in spanish style. No people. But Kenneth Griffin, the CEO of Citadel, wants to shatter all those numbers.  The American hedge fund manager worth $41.8 billion has his sights set on constructing a $1 billion property in Palm Beach. In 2023, he bought about 20 acres of prime real estate in the area, and plans are still underway to spend anywhere from $150 million to $400 million on constructing his dream house—and it's expected to be one of the priciest homes on the planet when complete. It’s just a quarter mile south of President Trump’s sprawling 126-room, 62,500-square-foot Mar-a-Lago estate.  Aerial shot of Palm Beach, Florida looking down on Everglades Island. Authorization was obtained from the FAA for this operation in restricted airspace. 10 of the richest residents of Palm Beach  Net worths are based on the most recent data from the Bloomberg Billionaires Index.  Julia Koch and family, $75.7 billion Thomas Peterffy, $52 billion Stephen Schwarzman, $47.9 billion Kenneth Griffin, $41.8 billion Abigail Johnson, $38.9 billion Dan Gilbert, $30.2 billion Thomas Frist Jr., $29.5 billion Gina Rinehart, $24.6 billion David Tepper, $22.3 billion Henry Kravis, $16.6 billion Like birds of a feather, billionaires tend to flock together. It’s estimated that the combined net worth of Palm Beach’s richest residents totaled an eye-watering $494.7 billion in 2024, according to analysis of Forbes data by the Palm Beach Daily News.  Aside from the temperate climate, private beaches, stunning views, and luxury real estate, the Florida town attracts the world’s wealthiest for its tax breaks. Most notably, Florida is one of the nine U.S. states with no income tax—meaning residents and companies don’t have to cough up taxes on their wages, salaries, or business profits. Plus, flocking to Florida is not just an investment for billionaires’ pockets—a part of the appeal of buying a megamansion on Palm Beach is sharing a zip code with some of the world’s one percent. Your ultrawealthy neighbors could include Koch Industries’ Julia Koch and her family, worth $75.7 billion; Stephen Schwarzman, the Blackstone CEO boasting a $47.9 billion net worth; or Fidelity CEO Abigail Johnson, who has amassed a $38.9 billion empire, to name a few. After Estée Lauder bought out his brand for $2.8 billion, fashion A-lister Tom Ford forked over $51 million for a home in the area in 2022. One year later, 84 others bought properties worth over $10 million in Palm Beach during 2023.  And if Palm Beach’s billionaires aren’t enough company, then just drive 10 miles south to Manalapan, where Oracle cofounder Larry Ellison just set a Florida record for the purchase of a $173 million estate spanning 16 acres. This story was originally featured on Fortune.com ...read more read less