Jeff Bezos Moves to Florida, Joins Miami's Billionaire’s Bunker, Closer to Parents and Potentially Dodging Taxes

Bezos, now closer to parents and aerospace company Blue Origin's operations, could also potentially save millions in taxes due to Florida's tax-friendly policies and lack of state capital gains tax.

Jeff Bezos, founder of Amazon and the world's third richest person, announced on Instagram that he's moving to the luxury island community of Indian Creek in Miami, Florida. This move brings him closer to both his parents and operations of the aerospace company Blue Origin.
Bezos has purchased two mansions worth a cumulative $147 million in Indian Creek, known as Billionaire's Bunker. Other high-profile residents of the small private island include Jared Kushner, Ivanka Trump, Carl Icahn, and Tom Brady.
The move to Miami could potentially save Bezos millions in taxes due to Florida's tax-friendly status and specifically, its lack of state capital gains tax. Bezos, who regularly sells hundreds of millions of dollars in Amazon stock each year, could face substantial tax savings.
Before Amazon's establishment, Bezos specifically chose Seattle for its reputation as a tech hub and Washington's relatively small population, mitigating the need to collect state sales tax from a significant number of customers. With Washington recently introducing a 7% capital gains tax, Bezos's move could be seen to leverage tax regulations advantageously.
Bezos's move is indicative of a larger trend with Florida doubling its quantity of Forbes 400 list members over the past two decades due to its tax advantages. With Bezos's arrival, the number of billionaires primarily residing in Florida will increase to 47.