Jeff Bezos, the world’s second richest person, saved nearly $600m in capital gains tax by moving to Miami, Florida. Mr. Bezos sold $2bn-worth of Amazon stock, avoiding Washington state’s 7% tax. If he completes the sale of all 50m shares, he could regain his position as the wealthiest person in the world. Mr. Bezos announced his move to Miami on Instagram, citing his desire to be closer to his parents and his aerospace company. He now resides on an exclusive island known as “Billionaire Bunker,” where his neighbors include Ivanka Trump, Tom Brady, and Carl Icahn. Mr. Bezos did not mention the capital gains tax as a reason for his move.
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