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Jeff Bezos often points retired that semipermanent occurrence comes from staying committed to an thought portion remaining unfastened to changing the approach.
It's astir authoritative that Google founders Larry Page and Sergey Brin person chopped ties with California. The 2 Google Guys person reportedly said Bye to California; joining the billionaires who person near the state, shifting businesses and houses.
Page is worthy astir $270 billion, according to the Bloomberg Billionaires Index.
According to a study successful Wall Street Journal, Larry Page has bought 2 monolithic Miami estates for a combined $173.4 million. The study quotes radical acquainted with the concern Google co-founder Sergey Brin is besides said to beryllium successful discussions to acquisition a Miami home, according to radical acquainted with the situation.Some analysts person termed Google founders' determination to permission California strikingly akin to Jeff Bezos’ relocation playbook. According to them, the timing, structure, and destination of Page’s flight from Silicon Valley marque his Florida pivot look rather similar Amazon laminitis Jeff Bezos.
But the large quality present is that Jeff Bezos did not permission California. Amazon laminitis near Seattle, the metropolis wherever helium started the online bookseller that grew into the planetary tech giant, Amazon.
When Jeff Bezos near Seattle
In 2024, Bezos announced connected Instagram that helium was leaving Seattle aft astir 30 years to determination to Miami. He said that the determination was to beryllium person to his parents and his rocket launches astatine Blue Origin. In his Instagram post, Bezos called Seattle his location since 1994.
However, the timing, arsenic immoderate analysts pointed out, besides suggested different reason: Taxes. In 2022 Washington authorities imposed a new, 7% superior gains taxation connected income of stocks oregon bonds of much than $250,000.
As Washington authorities does not person a idiosyncratic income tax, truthful the caller levy marked the archetypal clip that Bezos would look authorities taxes connected his banal sales. As reported by CNBC, successful 2022, erstwhile the Washington state's Capital gains taxation took effect, Bezos stopped selling.
He didn’t merchantability immoderate Amazon banal successful 2022 oregon 2023, gifting lone $200 cardinal of shares astatine the extremity of that year.After his determination to Miami, Bezos reportedly made up for mislaid time. Quoting an SEC filing, the study says that Bezos launched a pre-scheduled stock-selling program to unload 50 cardinal shares earlier January 31, 2025. And since Florida has nary authorities income taxation oregon a taxation connected superior gains, truthful connected the $2 cardinal merchantability that Bezos made, helium saved $140 cardinal that helium would person paid to Washington state.
On the full merchantability of 50 cardinal shares implicit the adjacent year, helium saved much than astatine slightest 600 million.
What is California’s Billionaire's tax
California’s projected ballot inaugural has been projected by the Service Employees International Union-United Healthcare Workers West to offset national fund cuts that volition impact California’s wellness attraction system. It would enforce a one-time, 5% taxation connected the assets of billionaires. The taxation would retroactively use to those who were California residents arsenic of January 1, 2026. In December 2025, task capitalist Peter Thiel announced that helium opened an bureau for his household concern institution successful Miami.
Donald Trump's AI czar David Sacks unveiled a caller bureau for his task superior firm, Craft Ventures, successful Austin, Texas.
