WASHINGTON, DC – Amazon founder Jeff Bezos is making a move to the Sunshine State, according to U.S. media sources. In an emotional Instagram post, Bezos shared old footage of the first Amazon office, originally located in his former garage in the Seattle suburb of Bellevue. The billionaire revealed his decision to relocate to Miami, driven by a desire to be closer to his parents, partner Lauren Sanchez, and the evolving operations of his space exploration company, Blue Origin, based in Cape Canaveral.
Bezos expressed the emotional nature of his decision, acknowledging Seattle’s special place in his heart. He founded Amazon in Seattle in 1994, playing a significant role in the city’s transformation into a thriving technology hub. While he led the company until 2021 when he stepped down as CEO to focus on other ventures, such as his aerospace company, his connection to Seattle remains profound.
Bezos’s cross-country move comes after he purchased two luxurious mansions in South Florida, worth $79 million and $68 million, as reported by U.S. media sources. Apart from personal reasons, living in Miami offers Bezos significant tax advantages. Washington State, his current residence, recently enacted a 7% tax on capital gains, which could result in substantial tax burdens for wealthy individuals like Bezos. According to the state’s Department of Revenue, Bezos could owe $70 million in state taxes for every $1 billion of Amazon stock he sells under this new tax law.
Bezos is not alone in making the move to Miami to benefit from the state’s favorable tax laws. Several other ultra-wealthy individuals have relocated to the area in recent years.