Clive Mason – Formula 1
- Jeff Bezos announced his move to Miami last year.
- Since his decampment, he’s started unloading billions of dollars’ worth of Amazon stock.
- Thanks to his new address, he’s avoiding paying hundreds of millions in taxes.
It’s a tale as old as our convoluted tax code: Rich people will do anything, including move across the country, to avoid paying taxes.
Jeff Bezos announced in November that he was leaving Washington state , his home for 29 years, and moving to Florida with his fiancée, Lauren Sánchez. The pair scooped up two properties for $147 million in the exclusive Indian Creek Village , an island off Miami known as the “billionaire bunker.”
He cited a slew of reasons for the move: He wanted to be closer to his parents and Blue Origin’s Cape Canaveral operations, plus he and Sánchez love Miami. What he didn’t mention was Florida’s favorable tax code.
It looks as if it probably factored in, though.