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Venice Protests: Bezos Rents a City, Activists React
n Venice, protests erupted after Jeff Bezos reportedly rented out large parts of the city for his wedding. Italian Greenpeace took to the streets with signs reading: "If you can rent Venice, you can pay more tax." But the real question is: does he actually pay less?
How Billionaires Like Bezos Minimize Their Taxes
And how?
1. A Symbolic Salary, Wealth in Stocks
Bezos officially earns a modest annual salary (around $80,000). But his real wealth lies in Amazon stock. These shares increase in value over time, but that growth isn’t taxed until he sells them—which he rarely does.
2. Loans Against Stock: Spending Without Selling
Instead of cashing out stocks, Bezos borrows against them. These loans aren’t taxed because they aren’t considered income. He can fund his lifestyle without triggering a taxable event.
3. Moving States to Cut Taxes
In early 2024, Bezos relocated from Washington (which introduced a 7% capital gains tax) to Florida—a state with no income or capital gains tax. This move likely saved him $400–600 million during stock sales.
4. Philanthropy as a Tax Strategy
Bezos donates billions through entities like the Bezos Earth Fund and various trusts. These donations reduce his taxable base while boosting his public image.
5. Family Offices and Trust Structures
His family office, Bezos Expeditions, manages personal investments and uses trusts for estate planning and tax optimization—common tools for preserving ultra-high-net-worth wealth.
Capitalism, Clearly Explained
Bezos follows a classic ultra-wealthy playbook: keep wealth in appreciating assets, avoid taxable events, live in tax-friendly states, donate strategically, and plan legacy through trusts. Meanwhile, protesters chant in the streets rather than try to understand the mechanisms of capitalism or find ways to improve their own financial situation.
The Wedding Was Moved—But Taxes? Unchanged.
Eventually, the wedding location was shifted due to the protests.
But did that result in more taxes paid? Of course not.
So was this a win for protesters—or just noise, as usual?
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