OPINION | This article contains the author's opinion.
Amazon founder Jeff Bezos has announced that he is leaving Seattle after nearly 30 years in order to move back to Miami.
Bezos mentioned that the operations of his space exploration company, Blue Origin, are shifting to Cape Canaveral, Florida, and that he and his fiancée love Miami.
The move is also motivated by the desire to be closer to his parents who recently returned to Florida.
Jeff Bezos says he’s moving to Florida to be closer to his parents. Another reason — taxes. Washington State has a new 7% tax on capital gains so he will owe $70 million in state taxes for every $1 billion of Amazon stock he sells. And he sells a lot. pic.twitter.com/G4gjzze200
— Robert Frank (@robtfrank) November 3, 2023
Bezos expressed his emotional attachment to Seattle, where he started Amazon, but stated that Miami now holds a special place in his heart.
“Seattle has been my home since 1994 when I started Amazon out of my garage,” Bezos wrote.
“I’ve lived in Seattle longer than I’ve lived anywhere else and have so many amazing memories here. As exciting as the move is, it’s an emotional decision for me. Seattle, you will always have a piece of my heart.”
Jeff Bezos on what great inventors do:pic.twitter.com/R5WyZKQivB
— Jon Erlichman (@JonErlichman) October 16, 2023
The announcement comes after Bezos purchased multimillion-dollar properties in Florida.
The move may also have financial benefits for Bezos, as Florida does not have a capital gains tax.
$AMZN founder Jeff Bezos is ditching Seattle for Miami. @robtfrank reports. pic.twitter.com/E4LUpQzDsf
— Last Call (@LastCallCNBC) November 4, 2023
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