Bezos Flees High-Tax Seattle for Florida, Saves $600M

Amazon founder and billionaire Jeff Bezos will save an estimated $610 million in taxes after he sells 50 million shares of Amazon, thanks to his move from Seattle to Miami last year, CNBC reported Monday.

The state of Washington imposed a 7% capital gains tax on sales of stock and bonds more than $250,000 in 2022. Meaning, that by the time Bezos unloads 50 million shares before Jan. 31, 2025, his address at “Billionaire Bunker” at Indian Creek, Florida, will save him hundreds of millions.

Bezos last week sold nearly 12 million common shares of Amazon stock worth more than $2 billion last week, according to a filing with federal regulators. Bezos avoided paying state taxes on that sale, too, meaning he saved $140 million that he would have paid if still living in Seattle.

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