Jeff Bezos, the founder of Amazon, has shocked the tech world by announcing his relocation from Seattle to Miami. Making the announcement on Instagram, Bezos revealed that his decision was primarily influenced by his parents’ recent move back to Florida, as he wants to be closer to them.

The move comes with mixed emotions for Bezos, who has called Seattle home since 1994 and expressed his deep attachment to the city. In a nostalgic video shared on Instagram, the billionaire reminisced about the early days of Amazon, showcasing the garage in Bellevue, Washington, where the first Amazon “office” was located.

In addition to family ties, Bezos disclosed that his space exploration company, Blue Origin, will be shifting its operations to Cape Canaveral, which is conveniently located near Miami. This strategic move allows Bezos to oversee and streamline the company’s activities while maintaining his presence in Florida.

However, it’s not just business that influenced Bezos’ decision. The billionaire entrepreneur also cited his love for Miami and his fiancée, Lauren Sánchez, as compelling factors for the move. The couple recently made headlines by purchasing adjoining mansions in the highly exclusive Biscayne Bay area for a staggering combined price of $144 million.

Apart from personal reasons, there are also financial incentives behind Bezos’s relocation. Florida’s lack of state capital gains taxes provides a significant advantage to Bezos, who frequently sells shares of Amazon. By moving to Miami, Bezos can enjoy the benefits of Florida’s tax structure, potentially saving him millions of dollars in taxes each year.

This unexpected relocation marks a major change for Bezos, who has been closely associated with Seattle throughout his career. Nonetheless, he remains committed to overseeing both Amazon and Blue Origin while embracing the warmth of Miami and strengthening his bonds with family and loved ones.

As the founder of Amazon and one of the wealthiest individuals in the world, Bezos’s move to Miami undoubtedly has broad implications and is sure to generate further buzz in the tech and business communities.