It seems that Jeff Bezos, the world’s second wealthiest individual with a net worth of $203.7 billion, has a voracious appetite for acquiring property in the exclusive Indian Creek Island, Florida. The area is aptly known as the “Billionaire Bunker,” home to some of the richest personalities in the world. This time, Bezos has added another mansion to his property portfolio, a stellar acquisition costing him a whopping $90 million.
Bezos’s property shopping spree started with two mansions, costing a grand cumulative total of $147 million. Pushing the extravagant boat out even further, the recent $90 million acquisition features a luxurious six-bedroom and nine-bathroom home. The latest property was procured in an off-market deal, with public records revealing the last known purchase price in 1998 as a meager $2.5 million by banker Javier Holtz.
An interesting revelation is the marked discrepancy between the property’s estimated market value and the premium price Bezos shelled out. According to property valuation website Zillow, the mansion is worth a comparatively modest $41 million. The price variance underscores the appeal of this unique location, its exclusivity and potential as a luxury property flourishing beyond the estimated market value.
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Indian Creek Island, also known as ‘Billionaire Bunker,’ is a luxurious neighborhood reputed as one of the most exclusive in the United States. Home to just 80 residences, each nestled in expansive mansions, the area globally attracts the richest personalities. The island provides premium amenities, including a private golf course and country club, indicative of the luxurious lifestyle. Notably, Bezos’s neighbors include the likes of Ivanka Trump and Jared Kushner, as well as NFL legend Tom Brady.
According to Bloomberg, the titan of commerce, Jeff Bezos, allegedly plans to dismantle the first two houses he bought to pave way for the construction of a gargantuan mansion. The plan, however, remains unconfirmed.
In addition to indulging in opulent real estate investments, Bezos’s move to Florida seems strategically incisive. Following the recent sale of roughly $8.5 billion of Amazon shares, residing in Florida offers significant tax benefits. The state, famous for its lack of state income tax, can be particularly beneficial to high-net-worth individuals making substantial transactions like Bezos.
The recent property acquisitions and decision to offload Amazon stocks herald a new chapter for Bezos. Personal and professional reasons, intertwined with the benefits of Florida’s favorable tax situation, underpin his relocation. Moving to Miami brings him closer to family and his aerospace company, Blue Origin.
References:
1: Benzinga. “Jeff Bezos Buys $90 Million Florida Mansion To Live In While His Other Newly Purchased $147 Million Homes Are ‘Demolished’ For A Mega Mansion,” Jeannine Mancini, April 3, 2024.
2: Miami Herald. “A Billionaire Bunker takeover? Bezos buys another mansion on a Miami island,” Madeline Marr, April 3, 20