Jeff Bezos will save over $600 million in taxes by moving to Miami
Jeff Bezos will save over $600 million in taxes by moving to Miami
Bezos plans to unload 50 million shares of Amazon before Jan. 31, 2025. Posting those sales in Florida will save him millions.
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don't dick moves like this create incentives for states to decrease tax?
Ostensibly. But the real value of a business owner isn't in the personal taxes they pay, its in the taxes their staff pays. The bulk of Amazon's workforce is going to stick to New York and California and Texas, because that's where the major ports and transit hubs that Amazon needs to operate exist. These states will still rake in tens of billions from the 1.6M Amazon staffers who still need to do their jobs.
You work in the high tax states and retire to the low tax states. Bezos is functionally done being an executive. Now he's just another coked up Miami fuckboi. But current CEO Andy Jassy will be staying in Capital Hill, Seattle for the tail end of his career because that's where the actual work of running the Amazon corporation takes place.
yea maybe, I was more imagining like moving to avoid tax but given his level of income I hope he is not running away from a tax which amounts to like 1/1000th of his wealth. maybe he is just moving to move, but who knows...
maybe he is just moving to move, but who knows…
He's a Cuban with family ties in Florida and a man who loves to cover himself in glitter paste and get horny in a pile of college co-eds. I gotta say, I don't think its just about the tax rates. Otherwise, all billionaires would be living in Jackson Hole, Wyoming.