Posted on 12/29/2024 6:41:39 PM PST by SeekAndFind
Financial experts predicted Jeff Bezos’s move to Florida would pay off handsomely—and they were right. So far, the Amazon founder’s tax savings have been astronomical, worth an estimated $1 billion this year alone.
Since his move in early 2024, Bezos has sold an estimated $13.6 billion worth of Amazon stock, according to Forbes. With its lack of not only a state income tax but also a capital gains tax, Florida is much more friendly to billionaires like Bezos who are selling off their assets than his former home state of Washington, which recently enacted a 7% levy on long-term capital gains of more than $250,000. Had Bezos still lived in Washington when he sold his stock, he would have had a $954 million state capital gains tax bill, Forbes calculated (he may still owe around $3.2 billion to the federal government, depending on other deductions and credits).
Bezos announced his move from Seattle to Indian Creek, Fla., at the end of last year, in an Instagram post that characterized the move as both personal and professional: He wanted to be closer to his parents in Miami, and to Blue Origin, his aerospace company, in Cape Canaveral.
Though he didn’t explicitly mention the tax savings, wealth managers at the time told Fortune it was obvious he was poised to save a pretty penny—especially as the Sunshine State’s lack of income tax or capital gains tax is a big reason many ultrawealthy people have flocked there (and continue to do so) in recent years.
Washington State enacted the capital gains tax, which recently survived a repeal effort, in 2022 to help pay for early learning and childcare programs and other school projects.
(Excerpt) Read more at finance.yahoo.com ...
Isn’t Florida going to drowned by global warming soon? He’ll need to move onto his yacht.
If he moved to international waters in his yacht, who would he pay taxes to?
Where did Bezos move/place his billions of cash from the sale of stocks?
Government never seems to understand that their insatiable demand for money has a limit. Then they crash……
I don’t care how much money a person makes as long as they don’t use it to make my life even slightly worse.
Bunker: An underground fortification, often with a concrete projection above ground level for observation or gun emplacements.
So he moves to Florida, digs a hole and crawls in.
My daughter and I tried digging a hole on the beach in Destin but it kept filling with seawater.
It’s going to be even worse when Florida is several fathoms down in 5 years.
It would depend on which country the yacht was registered.
I’d love to hear the Washington Post spin on this one
Jeff Bezos isn't that bad. Other than buying the Washington Post. Even there, he told them to knock it off and they're not allowed to endorse Kamala Harris.
MacKenzie Scott, his ex-wife, is well-known for donating to progressive causes.
if you had bothered to read the article, you’d have seen that “billionaire bunker” is a local moniker for Indian Creek Village, FL, which is an island accessible only by a private guarded bridge, NOT a hole in the ground ...
Sounds like you’re pissed off Donald Trump won.
The part about Florida being underwater was a joke.
Sorry it didn’t come off that way.
Another reason why Blue Islands don’t make good sense. They believe that anything they can reach is theirs to do with as they please.
They think like this ....
Housing is a human right.
Health care is a human right.
High speed Internet access is a human right.
Home heating fuel is a human right.
Electric service is a human right.
Mobile phone service is a human right.
Free public transportation is a human right.
Your kids belong to the school administrators. If you don’t like your daughter’s being spied on in the showers and fondled by people with male genitalia then shut up.
If your child wants an abortion or change genders it’s none of your business.
What to do if you live, earn, or invest in any blue islands?
Get out
Could have saved a hell of a lot more not getting married, stupid cuck simp.
You’d think, being a lib, Bezos would be proud to pay an extra billion in taxes. He probably thinks WE should pay more in taxes, after all.
Still doesn’t know jack about modern American women. He had half his crap stolen for no good reason.
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