Jeff Bezos's Move from WA to FL Has Saved Him Close to $1B in Taxes This Year

Jeff Bezos continues to sell Amazon stock following his decision to move away from Washington state to Miami. A recent regulatory filing reveals his plan to sell 25 million shares worth approximately $5 billion, adding to the 50 million shares he sold earlier this year. Bezos' relocation to Florida has raised questions about Washington state's capital gains tax, from which he has saved around $1 billion by moving. The tax, implemented in 2021, has generated controversy within the tech industry and the state. Despite initial success in revenue collection, the tax's second year fell short of expectations. Bezos' move has significant financial implications for Washington, where the tax system heavily relies on a small number of taxpayers. The billionaire's shift away from Seattle reflects his focus on ventures like Blue Origin, with declining ties to Amazon and The Washington Post. Bezos remains a major shareholder in Amazon, with the company's stock performing strongly in recent years.