Bezos Leaving Behind A Massive Seattle Real Estate Portfolio As He And Lauren Sanchez Plan Move Miami

December 8, 2023December 9, 2023 Admin

Amazon.com Inc. Founder Jeff Bezos’s recent announcement that he will move to Miami with his fiancée Lauren Sanchez caused a stir as he will leave behind the Seattle area, which is synonymous with the company’s success.

Amazon staff is reportedly searching for extensive office space locations in Miami.

Parents And Space Launches

“As exciting as the move is, it’s an emotional decision for me,” Bezos wrote in a November Instagram post.

Bezos expressed several reasons for the move, including a desire to move closer to his parents, Sanchez’s love of South Florida and his wanting proximity to Blue Origin, his space exploration company that launches from Cape Canaveral. Amazon and Microsoft Corp.‘s growth both contributed to Seattle’s tech-hub position and the area’s ability to attract top tech talent.

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After completing the move, Bezos will leave behind a Seattle real estate empire with an estimated value of $190 million. In 2019, following his much-publicized divorce from novelist MacKenzie Scott, Bezos embarked on a $45 million homebuying spree, acquiring four properties in the exclusive Hunts Point neighborhood. Business Insider discovered these properties by cross-referencing property tax records with addresses linked to Bezos’s business ventures and known properties.

In 2019, Bezos acquired three comparatively modest homes ranging from $1.8 million to $3.3 million within a mile of his waterfront estate. One of the properties, a four-bedroom house, is listed for sale at $4.4 million.

One of the crown jewels in his portfolio is a waterfront estate in Hunts Point, purchased in 2019 for $37.5 million through a trust. This residence, boasting 300 feet of coastline, a rooftop deck with a fireplace and a glass bridge to a two-story guesthouse, serves as Bezos’s residence when he is in town.

In addition to his personal portfolio, Bezos is also investing in real estate company Arrived. Arrived offers a fractional real estate investing platform with almost half a million retail investors. Through this platform, investors can acquire shares of single-family rental properties with a minimum investment of $100. It recently launched the Arrived Single Family Residential Fund, which streamlines capital allocation by enabling users to invest larger amounts at their convenience without waiting for individual property launches.

$1.5 Million Per Hour Enables Lavish Spending

Bezos’s departure from Seattle does not diminish his influence on the real estate landscape. In addition to his Seattle holdings, he remains a formidable landowner with diverse properties across the United States. His portfolio includes a ranch in Texas, Manhattan apartments, the largest home in Washington, D.C., an estate in Los Angeles and a $78 million home in Hawaii.

These expenditures are not likely to dent Bezos’ net worth significantly, as he makes approximately $1.5 million per hour and is worth $169.2 billion, according to the Forbes’ Real-Time Billionaires List as of Dec. 7.

In Miami, Bezos continues his trend of acquiring neighboring properties, investing in two adjacent estates on Indian Creek, a man-made island off the coast. The guarded island, known as billionaire bunker, is home to ultrarich people, including former NFL quarterback Tom Brady, Jared Kushner and Ivanka Trump and billionaire hedge fund manager Ken Griffin.

Bezos’s opulent lifestyle faced an unexpected challenge in Miami, where his $500 million yacht, Koru, reportedly struggles to find suitable docking space because of its immense size. The yacht’s presence among oil tankers in a Florida port adds an intriguing twist to Bezos’s ongoing pursuit of luxury.