Amazon.com Inc. (NASDAQ:AMZN) is reportedly searching for office space in Miami. This development coincides with the company’s founder and former CEO, Jeff Bezos’s impending relocation from Seattle to Florida.
What Happened: Insiders, choosing to remain unidentified due to the confidential nature of the plans, have revealed that Amazon is seeking around 50,000 square feet of office space in Miami.
An Amazon spokesperson confirmed the company’s search for Miami-based office space. However, the spokesperson asserted that this move was initiated before Bezos announced his decision to relocate to Florida, reported Bloomberg.
As of now, over 400 Amazon employees are based in Miami, but the company has yet to sign any direct lease agreements for office space in the region.
Miami’s office market has been booming with increased demand from companies in the technology and financial sectors. According to brokerage CBRE Group Inc., this demand has exceeded pre-pandemic levels.
Meanwhile, it was previously reported that Bezos, who resigned as Amazon’s CEO in 2021, purchased two properties in Indian Creek, an upscale Miami neighborhood also known as the “Billionaire Bunker.”
Why It Matters: Earlier this month, Bezos announced his decision to relocate to Miami, stating that his parents’ move to Miami and the shifting operations of his space venture, Blue Origin, to Florida, were major factors influencing his move.
Bezos’ financial success is largely due to his 9.73% stake in Amazon. As of November this year, he is the third-richest person in the world.
In the last ten years, Bezos’ wealth has surged by a whopping $125.6 billion. This equals an average annual increase of $12.56 billion, $34.4 million daily, $1.43 million per hour, and roughly $23,833 per minute.
Produced in association with Benzinga
