GlobalJeff Bezos decides to move to Miami and strengthens 'Silicon Beach'

Jeff Bezos decides to move to Miami and strengthens ‘Silicon Beach’

The American businessman and tycoon, Jeff Bezos, announced through his Instagram account that he will leave the city of Seattle, in Washington DC, and will relocate to the city of Miami, in Florida. The announcement surprised the followers of Amazon’s also majority shareholder.

In his letter, Bezos said that “Seattle has been my home since 1994, when I started Amazon in my garage. That’s my dad behind the camera in this video, touring Amazon’s first ‘office’. My parents have always been my greatest supporters. Recently, they moved to Miami, the place we lived when I was younger.”

He added: “I want to be close to my parents, and Lauren and I love Miami. Additionally, Blue Origin operations are increasingly moving to Cape Canaveral. For all that, I plan to return to Miami, leaving the Pacific Northwest.”

Bezos ended his letter by saying: “Seattle, you will always have a piece of my heart.”

It is worth mentioning that Bezos bought a home in Miami worth $79 million on the island of Indian Creek in Biscayne Bay, also known as “The Billionaires’ Bunker.” In this, he will have the American football player, Tom Brady, as neighbors; and the daughter of former President Donald Trump, Ivanka Trump.

However, some experts suggest that the decision of one of the richest men in the world strengthens the ‘Silicon Beach’, that is, the transfer of large business operations and even capital, to the so-called “Sunshine State.”

Proof of this is what happened in 2021, when one of the largest investors in Silicon Valley, Delian Asparouhov, decided to move his technology center to the city of Miami. His Founders Fund company has long been known for backing some of the most renowned companies in the world such as SpaceX, Palantir, Facebook, Airbnb, and Stripe.

President Trump’s former advisor, Jared Kushner, has also purchased properties in Miami. From New York, well-known figures from investment funds have also arrived, such as Paul Singer, founder of Elliott Management; and Ken Griffin, owner of Citadel. The former shareholders and creators of PayPal, Peter Thiel and Keith Rabois, also settled in the same metropolis.

Ken Griffin, owner of Citadel

(AFP via Getty Images)

Conservative and hedge funds have also purchased mansions on Hibiscus Island and extended stays in the penthouses of the Four Seasons Palm Beach hotel, as was the case of Griffin, who in 2021 held business meetings and directed his operations from that area. The owner of Citadel ordered the installation of fiber optics in the tourist complex to make the performance of his collaborators more efficient.

Due to the arrival of these investments, in 2020, the price of homes in the city of Palm Beach rose by up to 29%, according to the real estate company Douglas Eliman. According to the portal Infobae, the median home price is $4.9 million. With the arrival of Bezos, Miami is expected to acquire greater capital gains in this sector.

Another factor that increased the price of housing in Miami was the covid-19 pandemic, as it made it a more profitable and relaxed area that was distant from the regulations of the health emergency at the local level. According to analysts, societies are seeking to innovate, find governments that put citizens at the forefront and even have economic freedom.

Some have called Florida the entity with “low taxes but more security.”

According to Douglas Eliman’s website, “Miami’s future is very open. For some, it’s tropical Silicon Valley; For others, it is the Wall Street of the South. No matter what lifestyle or business sector you are in, Miami has it all,” said Jon Paul Pérez, director of the Related Group company, the largest real estate company in the area.

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