Billionaire exits: Florida guv on Bezos’ move; says Amazon chief's move hurt Washington budget
Florida Governor Ron DeSantis criticized Washington's tax policies following Jeff Bezos' relocation, arguing it significantly impacted the state's budget. DeSantis believes states without income tax, like Florida, hold a major advantage, warning that further tax expansion could drive more residents away. This comes as California considers a similar wealth tax proposal.
Florida governor Ron DeSantis has said that the fiscal outlook of the Washington state’s took a major hit after Amazon founder Jeff Bezos relocated from the state to Florida in late 2023. In a post shared on social media platform X (formerly known as Twitter) DeSantis argued that Washington had ‘lost its biggest taxpayer’ and that the move by the billionaire had a ‘major impact’ on the state’s budget.
Bezos moved into his so-called ‘billionaire buyer’ located non the Indian Creek Village community outside Miami in 2004. Some online reports suggested that his relocation helped Bezos save around $1 billion on taxes, a substantial figure compared to Washington’s annual revenue of $66.39 billion between 2023 and 2025.
Ron DeSantis criticise Washington’s tax policy
DeSantis has linked the departure of Bezos to Washington’s plans fro a new state income tax on millionaires calling the policy ‘counterproductive’.
He believes that states without income tax such as Florida gain a ‘major advantage’ over the ones that impose such taxes. “Washington has already driven taxpayers out due to bad policies. Enacting an income tax would be counterproductive — states with no income tax have a major advantage over states that do.
The inevitable result is that some taxpayers will flee, the appetite for spending will continue, and the income tax will expand to hit people with sub-seven figure incomes.
This will further erode the economic base — and the cycle will keep repeating.,” DeSantis wrote, warning that more residents would flee if the tax base continued to expand.
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California’s wealth tax proposal
DeSantis’ remarks come as California considers a similar measure, the 2026 Billionaire Tax Act, which would impose a one-time 5% levy on residents with a net worth above $1 billion. The proposal includes strict penalties for understating wealth and measures to prevent evasion among California’s roughly 200 billionaires.As reported by New York Times, venture capitalist Pete Theil and Google co-founder Larry Page are thinking of cutting down and reducing their ties to the state before the end of the year. The reason behind this decision is a proposed ballot measure that would impose 5% tax on residents worth more than $1 billion. The initiative is backed by the health care union SEIU-United Healthcare Workers West, could raise up to $100 billion from about 200 billionaires is approved.