After cutting ties with California in December 2025 and moving to Miami, Peter Thiel’s Family Office pays record rent

Peter Thiel’s family office has signed a lease at Miami’s 830 Brickell office tower. The PayPal founder has reportedly agreed to pay about $250 per square foot for nearly 18,200 square feet of office space. The deal is being described as the highest-priced office lease signed in Miami-Dade County to date and comes months after Thiel expanded his presence in South Florida and distanced key business operations from California.According to a Bloomberg report, the family office will occupy part of the 44th floor at 830 Brickell, a 55-story office tower that has attracted several finance and technology firms. Thiel’s office is taking over a portion of the space previously leased by Brazil’s Banco Master, which collapsed last year amid what authorities have described as a major fraud investigation. The bank never moved into the building despite securing the lease.Thiel’s move adds his family office to a tenant roster that includes Citadel Securities, private equity firm Thoma Bravo, Microsoft and Banco Santander. The tower, completed in 2024, has emerged as one of Miami’s most prominent office developments amid an influx of financial and technology firms into South Florida.The lease comes as Miami continues to attract wealthy individuals, investors and companies relocating from higher-tax states. Discussions about tax increases in states such as California, New York, and Washington have prompted some executives and entrepreneurs to establish offices or relocate operations to Florida, which does not levy a state income tax.California has been weighing a one-time 5% tax on billionaires who were residents of the state as of January 1, 2026, while Florida lawmakers are considering a ballot initiative that would reduce property taxes by increasing the homestead exemption for primary residences.Thiel, worth an estimated $23.6 billion, according to the Bloomberg Billionaires Index, has owned a property in Miami Beach for more than five years. In December 2025, his investment firm, Thiel Capital, announced plans to open an office in Miami’s Wynwood neighbourhood, further extending its footprint in the region.The billionaire entrepreneur has steadily increased his business activities in Miami over the past several years. His venture capital firm, Founders Fund, opened a Miami office in 2021 and later expanded its operations there. Founders Fund has backed companies including SpaceX and Anthropic.Thiel has also played a role in relocating business operations to South Florida. As chairman of Palantir Technologies, he was reportedly influential in the company's decision to move its headquarters to the Miami area this year. The artificial intelligence and data analytics company is led by CEO Alex Karp.Beyond Florida, Thiel has recently spent time in Argentina, where he reportedly purchased a residence in Buenos Aires and met with Argentine President Javier Milei.The latest office lease comes as Thiel stands to benefit from investments in companies such as SpaceX and Anthropic, both of which have been linked to potential public market listings.