The move back to his childhood home brings emotions, potentially lower state taxes and fellow billionaires

Jeff Bezos says he is moving from Seattle to Miami, where he’ll be near his parents, closer to some operations of his space company—and where he also could end up paying less in taxes.

The Amazon.com AMZN 1.12%increase; green up pointing triangle founder and former CEO posted his plans on Instagram Thursday. “I want to be close to my parents, and Lauren and I love Miami,” he wrote, referring to his partner, Lauren Sanchez. He said his parents recently moved back to Miami, where he graduated from high school in 1982.