Jeff Bezos will save over $600M in taxes on his stock sale thanks to Seattle-Miami move
NY Post
Billionaire Jeff Bezos’ recent move to Miami will help him save more than $600 million in taxes as he sells more than 50 million shares of Amazon stock over the next year.
Bezos — the second richest person in the world, according to the Bloomberg Billionaires Index — ditched his longtime digs in Seattle last year for a glittering estate on the ultra-exclusive island Indian Creek, also known as “Billionaire Bunker.”
Aside from advantages like better weather, and proximity to his parents and rocket launches at his Blue Origin space company, the move came with another major perk: no state income or capital gains taxes.
Last week, Bezos unloaded 12 million shares of Amazon worth roughly $2 billion, saving him about $140 million in capital gains taxes he would’ve had to dish out to Washington state, CNBC reported.
Washington imposed the tax on sales of stocks or bonds upwards of $250,000 in 2022.
By Jan. 31, 2025, the 60-year-old has plans to sell 50 million shares of the e-commerce giant, according to Securities and Exchange Commission filings.
