Amazon founder Jeff Bezos is reportedly making plans to move away from Seattle and establish Miami as his primary place of residence, according to sources familiar with the matter. The billionaire has recently been spending more time in South Florida during the winter months, but now intends to make the region his main home base.
Bezos purchased an estate in Beverly Hills in 2020 and already owns mansions in places like Washington DC. But insiders say he has decided South Florida offers a more desirable lifestyle and environment at this stage. His private jet has been frequently flying to Miami over the past year.
The move would mark the end of an era, with Bezos leaving the Seattle region synonymous with Amazon’s meteoric rise. Bezos founded Amazon in his Seattle garage in 1994 and the company remains headquartered nearby.
Miami appeals to Bezos in part due to Florida’s lack of state income or capital gains taxes. Bezos also owns the Blue Origin rocket company, and its orbital spacecraft testing site is located just outside Miami.
But insiders say lifestyle is the bigger motivation. Bezos has reportedly joined high-powered social circles and become enamored with the Miami area after getting acquainted recently. His family already has ties to Florida through his parents’ home in the state.
Forbes lists Bezos as the world’s third wealthiest person with a net worth estimated at $137 billion as of November 2022. While still involved as Amazon’s executive chairman, he stepped down as CEO in 2021 to devote time to outside ventures.
The news comes amid growing tech industry migration to Miami and other Southern cities with lower taxes and costs than traditional coastal hubs. But Seattle will remain central to Amazon, which just last month wrapped up a 25,000-person hiring event there.
While Bezos appears set on establishing a new home base, he is likely to own properties across the country for the foreseeable future given his vast resources. And Seattle will remain vital to his legacy, given its role in Amazon’s still-unfolding story.