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Jeff Bezos, after founding Amazon in a Seattle garage three decades ago, packs his bags for Miami

Economic Times

Economic Times · 1y ago

Jeff Bezos, after founding Amazon in a Seattle garage three decades ago, packs his bags for Miami

Jeff Bezos, the billionaire founder of Amazon, is moving from Seattle, where he established the company in a garage nearly three decades ago, to Miami. Bezos, who stepped down as Amazon's CEO three years ago, plans to be closer to his parents and partner, Lauren Sanchez. His rocket company, Blue Origin, is increasingly shifting operations to Cape Canaveral, which is about 200 miles south of Miami. Bezos has lived in Seattle since 1994 but has extensive properties in Miami's exclusive areas, making this emotional move.

Related News

Why Jeff Bezos might be loading up on homes in Miami

Business Insider

Business Insider · 1y ago

Why Jeff Bezos might be loading up on homes in Miami

Jeff Bezos, the founder of Amazon, recently purchased two homes on the exclusive island enclave of Indian Creek near Miami, also known as the "Billionaire Bunker." He reportedly intends to acquire additional neighboring properties, with his emissaries already reaching out to at least three other homeowners on the island. Bezos previously bought several homes around his Seattle residence in Hunts Point, suggesting a similar strategy of securing privacy and providing accommodation for his staff and security.

With Jeff Bezos' move to Miami, he leaves a $190M Seattle real estate empire behind — including 5 previously unreported properties

Business Insider

Business Insider · 1y ago

With Jeff Bezos' move to Miami, he leaves a $190M Seattle real estate empire behind — including 5 previously unreported properties

Amazon founder Jeff Bezos is leaving behind a real estate empire in Seattle worth up to $190 million as he moves to Miami with fiancée Lauren Sanchez. After his high-profile divorce, Bezos went on a homebuying spree in 2019, acquiring four previously unreported properties in the exclusive Hunts Point enclave. Combined with his existing luxury properties, Bezos' Washington state real estate portfolio includes eight properties in ritzy Seattle suburbs. The properties were purchased through trusts and LLCs, and Bezos' staff and security are said to reside in some of the smaller properties.

Is Amazon's Jeff Bezos a bad neighbor?

Business Insider

Business Insider · 1y ago

Is Amazon's Jeff Bezos a bad neighbor?

According to Business Insider, Jeff Bezos, the founder of Amazon, is seen as a distant and elusive neighbor by residents of Hunts Point, a wealthy suburb near Seattle. Bezos rarely participates in local events or interacts with his neighbors, with his colossal gates mostly closed. Neighbors describe him as too busy with "national stuff" and not actively involved in the community. However, Bezos is set to move to Miami soon with his fiancée.

Jeff Bezos sold Amazon shares worth $6bn this week. Internet has funny reasons..

Livemint

Livemint · 1y ago

Jeff Bezos sold Amazon shares worth $6bn this week. Internet has funny reasons..

Jeff Bezos, the founder of Amazon, has sold 36 million shares of the company totaling over $6 billion. This move follows his earlier announcement of intending to sell up to 50 million shares over the next year. The motive behind Bezos' decision remains undisclosed, but his recent relocation to Miami from Seattle, known for its lack of capital gains tax, may potentially save him around $288 million in taxes. Despite the sales, Bezos' fortune has surged to $199.5 billion, making him one of the world's richest individuals.

Jeff Bezos on buying spree, acquires third mansion in Florida for $90 million

Livemint

Livemint · 1y ago

Jeff Bezos on buying spree, acquires third mansion in Florida for $90 million

Jeff Bezos, the founder of Amazon.com, is reportedly buying a $90 million mansion on Indian Creek island in South Florida. This will be Bezos' third property on the exclusive island, where he plans to reside while demolishing his other houses there. Bezos, the world's second-richest person, recently announced his move to Miami from Seattle and has been selling billions of dollars' worth of Amazon shares since February. He also owns other significant properties, including homes in Washington, Maui, and Beverly Hills. The mansion's current owner is former banker Javier Holtz.

Jeff Bezos' Miami move could save him $600 million in taxes on stock sale

Business Insider

Business Insider · 1y ago

Jeff Bezos' Miami move could save him $600 million in taxes on stock sale

Jeff Bezos' decision to move to Miami could save him over $600 million in taxes. The Amazon founder plans to sell 50 million shares in the company by January 31, 2025, raising $8.6 billion. Florida has no capital gains tax, unlike Seattle where Bezos had been based. Washington state recently implemented a 7% capital gains tax on stock or bond sales over $250,000. Bezos cited personal reasons for the move, including being closer to family and Blue Origin's operations in Cape Canaveral. He already purchased properties in Miami's exclusive Indian Creek district.

Jeff Bezos stake to come down to 8.8% after planned Amazon share sale worth $5 billion

Livemint

Livemint · 1y ago

Jeff Bezos stake to come down to 8.8% after planned Amazon share sale worth $5 billion

Amazon founder Jeff Bezos plans to sell 25 million shares of the company, worth nearly $5 billion, after the stock reached a record high. This would decrease Bezos' stake to 8.8% of outstanding stock. Amazon share price hit an all-time high of $200.43 on Tuesday. Bezos sold approximately $8.5 billion worth of Amazon shares in February. As Bezos plans his sale, Amazon has announced it will discontinue its security robot, Astro for Business, and shift its focus to household robots.

The history of Jeff Bezos and Donald Trump's relationship

Business Insider

Business Insider · 9m ago

The history of Jeff Bezos and Donald Trump's relationship

Amazon founder, Jeff Bezos, congratulated Donald Trump on his presidential election victory and praised his courage following an assassination attempt in July 2024. While Bezos and Trump have had their differences, they met in 2016 and Bezos described the meeting as productive. Trump has criticized Amazon multiple times, claiming it is damaging to tax-paying retailers and pushing smaller businesses out. In addition, Amazon filed a complaint in 2019 alleging that Trump influenced the Department of Defense's decision to award a contract to Microsoft instead of Amazon Web Services. Trump has also criticized The Washington Post, which Bezos owns.

Jeff Bezos just sold off $2 billion in Amazon shares in what could be a strategy to make him the richest man in the world — again

Business Insider

Business Insider · 1y ago

Jeff Bezos just sold off $2 billion in Amazon shares in what could be a strategy to make him the richest man in the world — again

Jeff Bezos has sold 12 million shares of Amazon stock, worth $2 billion, in a move that could potentially make him the world's richest man again. This is part of a plan announced by Amazon earlier this year for Bezos to sell off 50 million shares. The surge in Amazon's stock this year has increased Bezos' estimated wealth by $22.6 billion. The sale also narrows the gap between Bezos and Elon Musk's net worth, making it possible for Bezos to overtake Musk and reclaim the title of the world's richest person.

Jeff Bezos taps Amazon veteran Dave Limp to speed up space company Blue Origin

Economic Times

Economic Times · 1y ago

Jeff Bezos taps Amazon veteran Dave Limp to speed up space company Blue Origin

Jeff Bezos has appointed Amazon veteran Dave Limp to accelerate the growth of his space company Blue Origin. Limp, who currently oversees Amazon's devices and services, will now take on the additional role of CEO of Blue Origin. The move comes as Bezos plans to step down as Amazon CEO to focus on other ventures, including Blue Origin's ambitious space exploration plans.

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