Now, Bezos has purchased his third mansion in South Florida’s Indian Creek Island, in line with a Bloomberg report. The Miami residence on this unique neighborhood, often called “Billionaire Bunker,” set him again $90 million. Bezos already owns $147 million value of property there, cut up between two mansions. He additionally owns properties in Washington, Maui, and Beverly Hills.
However Bezos doesn’t plan to separate his time between these three mansions. As a substitute, he’ll reportedly raze all three properties to construct a megamansion, in line with Realtor.com. He’ll dwell on the residence he most not too long ago bought at 28 Indian Creek Island Street whereas development is underway. The six-bedroom, 10-bathroom house is greater than 15,000 sq. toes and was most not too long ago bought in 1998 for simply $2.5 million, in line with Miami-Dade county property records.
Bezos and Amazon didn’t reply to requests for remark from Fortune in regards to the transaction.
Why Bezos moved to Florida within the first place
Bezos introduced that the explanation behind his cross-country transfer was to be nearer to his mother and father—and that he and his fiancée, Lauren Sánchez, “love Miami,” in line with an Instagram reel. He had lived in Seattle since 1994, when he began his e-commerce empire from his storage. Now he’s worth about $200 billion, in line with Forbes.
Other than household ties, it’s no marvel that Bezos would wish to cling on to as a lot of his cash as attainable—particularly after his blockbuster divorce from MacKenzie Scott, which value him a whopping $38.3 billion. Bezos joins a roster of ultra-wealthy figures who’ve made the transfer to Florida probably as a solution to save more cash in taxes.
In 2022, Washington’s capital features tax had reached 7%, whereas Florida had no capital-gains tax. Certainly, the distinction between Washington and Florida’s capital features tax charges had already saved Bezos nearly $300 million as of mid-February, Fortune beforehand reported. That was simply after Bezos had bought 24 million Amazon shares, worth more than $4 billion. Since then, he’s offloaded a complete of fifty million shares, netting him $8.5 billion.
“Florida is very, very favorable for someone like Jeff Bezos,” John Pantekidis, managing associate and normal counsel at TwinFocus, which manages over $7 billion for ultra-high-net-worth households, told Fortune’s Alicia Adamczyk in mid-February. “They make it very cost effective for folks like Jeff to live down there. It’s ideal, it’s nirvana.”
Different figures who’ve flocked to Florida—and this “Billionaire Bunker” neighborhood particularly—embody Tom Brady, Ivanka Trump, and Jared Kushner. Other than the monetary break they get in taxes, Indian Creek Island residents get pleasure from a 300-acre gated neighborhood and man-made barrier island, and there’s solely 41 properties within the neighborhood. That makes it “one of the wealthiest, private, most secure communities in Miami Beach, and the world,” in line with Florida-based luxurious actual property agency The Mild Group.
