Australians will get a boost to minimum wages while more will be squirrelled away into retirement nest eggs under changes taking place at the start of a new financial year.

July 1 marks brighter news for the hip pockets of Australians with increases to wages and welfare payments and continued energy bill support.

The national minimum wage will increase 3.5 per cent, with the lowest-paid workers taking home $24.95 per hour, or $948 per week.

The rate at which superannuation is paid into workers’ nest eggs will increase from 11.5 per cent to 12 per cent and expand to working parents who take leave to care for their babies.

A mother-of-two’s retirement savings will see a boost of about $14,800, with about 200,000 mums benefiting from the change annually.

But while most Australians will enjoy more in their super accounts, those with balances over $3 million, about 80,000 people, will have their accounts tax doubled from 15 per cent to 30 per cent.

Parents will gain an additional 10 days, totalling 120 days, of parental leave for babies born after July 1.

For 2.4 million people on social security payments, the new financial year brings a 2.4 per cent increase to some payments due to indexation.

Families on the Family Tax Benefit Part A, will receive $227.36 a fortnight for children aged under 13 and $295.82 for children aged 13 or over.

Those on Family Tax Benefit Part B see their payments increase to $193.34, and those with a youngest child aged five or over, the rate will increase to $134.96 a fortnight.

While aged pension rates aren’t increasing, the threshold for the income and assets a pensioner must earn under to receive a full pension will lift by 2.4 per cent.

Four new Medicare items will support longer consultation times and higher rebates for specialised gynaecological care from Tuesday.

They apply to initial and follow-up consultations which last a minimum of 45 minutes, either in person or via video, while new menopause and perimenopause health assessments will also be made available.

“You simply can’t be serious about strengthening Medicare without a serious focus on women’s health,” Health Minister Mark Butler said.

“Women consume about 60 per cent of all health services in this country and they face a range of significant costs simply by virtue of being women.”

Meanwhile, energy bill support will continue from the government, bringing down pressure on households and small businesses with a $150 rebate automatically applied to bills in two quarterly instalments.

But some households could be in for a power bill shock as new benchmark prices take effect, with NSW customers on standing offers facing increases of between 8.3 per cent to 9.7 per cent.

Southeast Queensland customers on default plans can expect hikes of between 0.5 per cent and 3.7 per cent, while people in South Australia face rises of 2.3 per cent to 3.2 per cent.

Victorian households can expect an average one per cent bump, with some distribution zones actually set for small price drops.

Amazon founder Jeff Bezos and journalist Lauren Sanchez, flush from their Venice wedding ceremony, are gearing up for the final day of partying in the lagoon city with scores of celebrity guests from media, fashion and show business.

The three-day gala, estimated to cost $US50 million ($A76 million), will culminate on Saturday evening with the closing party in a former medieval shipyard where Lady Gaga and Elton John are expected to perform.

Bezos, 61, and Sanchez, 55, exchanged rings on Friday evening on the small island of San Giorgio, across the water from Saint Mark’s Square, accompanied by singing from Matteo Bocelli, son of Italian tenor Andrea Bocelli.

The bride at the ceremony wore a high-necked silhouette dress and a tulle and lace veil by Dolce and Gabbana, which she told magazine Vogue was based on Sophia Loren’s dress to marry Cary Grant in the 1958 film Houseboat.

Sanchez was also wearing a pair of diamond earrings by Dolce & Gabbana, which, according to Vogue, were lent to her in keeping with the tradition that it brings good luck for a bride to wear something borrowed.

Bezos, who is No.4 on Forbes’ global billionaires list, donned a black tuxedo and bow tie over a white shirt.

The ceremony had no legal status under Italian law, a senior city hall official told Reuters, suggesting the couple may have already legally wed in the United States, avoiding the bureaucracy associated with an Italian marriage.

Bill Gates, Leonardo DiCaprio, Orlando Bloom, Tom Brady, Jordan’s Queen Rania, Oprah Winfrey, Kris Jenner and Kim and Khloe Kardashian, as well as Ivanka Trump and Jared Kushner and Domenico Dolce from Dolce & Gabbana were among the 200-250 guests.

While the celebrities rub shoulders in the isolated halls in the east of the city, not far away activists will be protesting at what they see as Venice being gift-wrapped for ultra-rich outsiders.

A protest march is planned at 5pm on Saturday from the railway station to the Rialto Bridge.

For days, members of the “No Space for Bezos” movement have been trying to spoil the party, hanging anti-Bezos banners on the iconic Rialto Bridge and laying out a huge canvas in central Saint Mark’s Square telling the tech-tycoon to pay more taxes.

While some residents and activists see Bezos’ extravaganza as a symbol of inequality and arrogance, Venice’s businesses and the city authorities have welcomed the event, claiming a major boost for the local economy.

“Those who protest are in contradiction with the history of Venice, which is a history of relations, contacts and business,” the city’s mayor Luigi Brugnaro told Reuters in an interview.

“Bezos embodies the Venetian mentality, he is more Venetian than the protesters,” said the mayor, adding that he hoped Bezos, who donated 3 million euros ($A5.4 million) to local institutions, would return to the city to do business.

Brugnaro said Bezos had attached no conditions to holding his wedding celebrations in Venice, and City Hall had only learned about his donations after they had already been made.

Bezos, Amazon’s executive chair, became engaged to Sanchez in 2023, four years after the collapse of his 25-year marriage to MacKenzie Scott.

Australians are being warned to exercise patience when lodging their tax returns and be wary of tax-time loans this end of financial year.

Some 142,000 people had amendments or their returns investigated by the tax office in 2024 after jumping the gun before it was marked ‘tax ready’.

These were returns lodged in the first 2 weeks of July 2024.

Waiting a few extra weeks gives the tax office ample time to pre-fill important information.

“We pre-fill information from your employer, banks, government agencies and health funds into your tax return to help you get it right the first time – regardless of whether you use a registered tax agent or lodge yourself,” ATO Assistant Commissioner Rob Thomson said.

That little bit of extra time reduces the likelihood of mistakes or omissions which can lead to taxpayers having to submit an amendment – causing delays and issues.

The Tax Practitioners Board has also voiced concerns over tax time loans and how they might harm vulnerable members of the community.

This involves a tax practitioner, or associated lender, providing a short-term loan or advance on an estimated tax refund to a client.

Consumers could be hit with higher fees not fully transparent to the client, a failure of the practitioner in exercising reasonable care and unlawful behaviour when engaging in the practice.

“Tax practitioners must carefully consider their legal and ethical obligations and inform their clients of the potential risks when engaging in or recommending tax time finance,” board chair Peter de Cure said.

The Australian government introduced tax cuts from July 1, 2024 that will reduce the 19 per cent tax rate to 16 per cent and drop the 32.5 per cent rate to 30 per cent.

An increased threshold for which the 37 per cent tax rate applies has gone from $120,000 to $135,000, with another jump for those in the 45 per cent rate from $180,000 to $190,000.

More changes are on the way from 2026 when every taxpayer will receive an extra cut of up to $268 from July 1 and up to $536 every year from July 2027, compared to 2024–25 tax settings.

The ATO collected $577.4 billion in revenue in the 2022-23 financial year with just over half of that stemming from individual income tax ($298 billion).

Work-related expenses resulted in half of deductions claims by individuals with 10.3 million Aussies claiming a total of $28.3 billion – an average of $2739 per person.

Major Australian and New Zealand retailers are primed for an energy switch following millions of dollars in federal funding to decarbonise their services.

Wesfarmers, who own shops like Officeworks, Bunnings, Kmart and Coles will finance rooftop solar, battery storage, a vehicle smart charging pilot and other efficiency initiatives across stores. 

This comes from a $100 million commitment from government-backed Clean Energy Finance Corporation, labelled Australia’s specialist climate investor.

It means Wesfarmers will be able to manage energy consumption across its retail sites and make them more efficient through storage. 

These installed or upgraded facility changes are expected to be in effect by the end of 2025.

“We have long managed our businesses with climate and carbon awareness and we are committed to continuing to take action to reduce our impact on the environment,” Wesfarmers CFO Anthony Gianotti said.

A study to accelerate decarbonisation across stores will also be undertaken under the funding envelope.

Adopting these initiatives is a “practical and speedy” way to cut the organisations carbon footprint, the climate investor’s CEO Ian Learmonth said.

“Many Australians would have enjoyed a Bunnings Saturday sausage sizzle or taken the path to Officeworks for those back-to-school necessities,” he said.

“At selected sites they will soon be able to add vehicle charging to their store visits while enjoying solar-powered air conditioning.”

Australia’s retail sector accounts for 50 per cent of energy use in the commercial property sector and five per cent of the nation’s greenhouse gas emissions. 

Batteries, virtual power plants and electric vehicles can reduce grid demand through co-ordination of their charging and discharging, the Australian Energy Market Operator said.

Federal energy minister Chris Bowen said the partnership will drive down emissions and lower energy costs, while providing knock-on benefits to households. 

“This boost in finance by the Clean Energy Finance Corporation will accelerate Wesfarmers’ efforts to reduce its carbon footprint, make the shift to cleaner and cheaper energy and better manage energy use,” he said.

Amazon founder Jeff Bezos and journalist Lauren Sanchez have married in a lavish Venice wedding, after multiple days of star-studded nuptial events.

Sánchez, 55, posted to Instagram a photo of herself beaming in a white gown as she stood alongside a tuxedo-clad Bezos, the world’s fourth-richest man.

The bride wore a classic mermaid-line gown, featuring Dolce & Gabbana’s signature Italian lace. A traditional tulle-and-lace veil completed her look.

“Not just a gown, a piece of poetry,” she wrote on Instagram, where her name now appears as Lauren Sánchez Bezos.

Friday night’s ceremony had no legal status under Italian law, a senior city hall official told Reuters, suggesting the couple may have already legally wed in the United States, avoiding the bureaucracy associated with an Italian marriage.

The festivities, estimated to cost about $US50 million ($A77 million), culminate on Saturday with a party in a former medieval shipyard where media outlets say Lady Gaga and Elton John are set to perform.

Bill Gates, Leonardo DiCaprio, Orlando Bloom, Tom Brady, the queen of Jordan, Oprah Winfrey, Kris Jenner and Kim and Khloe Kardashian as well as Ivanka Trump and Jared Kushner and Domenico Dolce from Dolce & Gabbana are among the 200-250 guests.

Amid tight security, there have been glimpses of the celebrities moving around town, the women in summer dresses and high heels stepping somewhat gingerly off boats ferrying them around the city’s canals.

Celebrations began on Thursday evening in the cloisters of Madonna dell’Orto, a medieval church in the central district of Cannaregio that hosts masterpieces by 16th-century painter Tintoretto.

“This magical place has gifted us unforgettable memories,” the bride and groom said on their wedding invitation, in which they asked for “no gifts” and pledged charity donations for three Venetian institutions.

Their donations are worth three million euros ($A5.4 million).

Businesses have welcomed the glitz and glamour but it is opposed by a local protest movement whose members resent what they see as Venice being gift-wrapped for ultra-rich outsiders.

Bezos, 61, is No.4 on Forbes’ global billionaires list.

Giulia Cacopardo, a 28-year-old representative of the “No Space for Bezos” movement, complained that the needs of ordinary people were being neglected in a city that is a tourist magnet and fast depopulating largely due to the soaring cost of living.

Venice’s city centre has less than 50,000 residents, compared to almost 100,000 in the late 1970s.

“When you empty a city of its inhabitants, you can turn it into a stage for big events,” Cacopardo told Reuters.

“(But) the money that Bezos spends on this wedding does not end up in the pockets of Venetians. The owners of luxury hotels are not Venetians.”

Cacopardo was one of 30-40 activists who staged a protest in St Mark’s Square on Thursday, chanting, “We are the 99 per cent” as a masked couple posed as bride and groom and one man climbed a pole to unfurl a banner reading “The one per cent ruins the world”.

Police intervened, forcibly removing the protesters.

The anti-Bezos front is planning a march on Saturday, and their activities have already led authorities to step up security and move the location of the closing party to a more secluded part of Venice, the Arsenale former shipyard.

Charlotte Perkins, an Australian tourist, said she could understand the locals’ resentment at their city being treated as a celebrity playground.

“I’d probably feel the same if I lived here,” she said.

But politicians, hoteliers and some other Venice residents are happy about the wedding, saying such events do more to support the local economy than the multitudes of day-trippers who normally overrun the city.

“We are happy and honoured to welcome Jeff Bezos and his consort Lauren Sanchez,” mayor Luigi Brugnaro said.

Bezos, Amazon’s executive chair, got engaged to Sanchez in 2023, four years after the collapse of his 25-year marriage to MacKenzie Scott.

with AP

Amazon founder Jeff Bezos and journalist Lauren Sanchez have left their luxury hotel on Venice’s Grand Canal to head to their wedding ceremony, the centrepiece of a three-day gala featuring dozens of stars but also protests by local activists. 

Sanchez, 55, waved and blew kisses to onlookers as she boarded a sleek motor boat outside the Aman hotel wearing shades and a head scarf to protect her from the blistering summer sun.

About two hours later Bezos, 61, made the same short trip across the lagoon to the small island of San Giorgio where the couple will exchange rings, accompanied by singing from Matteo Bocelli, son of Italian tenor Andrea Bocelli.

The evening ceremony will have no legal status under Italian law, a senior city hall official told Reuters, suggesting the couple may have already legally wed in the United States, avoiding the bureaucracy associated with an Italian marriage. 

The festivities, estimated to cost about $US50 million ($A77 million), culminate on Saturday with a party in a former medieval shipyard where media outlets say Lady Gaga and Elton John are set to perform.

Bill Gates, Leonardo DiCaprio, Orlando Bloom, Tom Brady, the queen of Jordan, Oprah Winfrey, Kris Jenner and Kim and Khloe Kardashian as well as Ivanka Trump and Jared Kushner and Domenico Dolce from Dolce & Gabbana are among the 200-250 guests.

Amid tight security, there have been glimpses of the celebrities moving around town, the women in summer dresses and high heels stepping somewhat gingerly off boats ferrying them around the city’s canals.

Celebrations began on Thursday evening in the cloisters of Madonna dell’Orto, a medieval church in the central district of Cannaregio that hosts masterpieces by 16th-century painter Tintoretto.

“This magical place has gifted us unforgettable memories,” the bride and groom said on their wedding invitation, in which they asked for “no gifts” and pledged charity donations for three Venetian institutions.

Their donations are worth 3 million euros ($A5.4 million).

Businesses have welcomed the glitz and glamour but it is opposed by a local protest movement whose members resent what they see as Venice being gift-wrapped for ultra-rich outsiders. 

Bezos is No.4 on Forbes’ global billionaires list.

Giulia Cacopardo, a 28-year-old representative of the “No Space for Bezos” movement, complained that the needs of ordinary people were being neglected in a city that is a tourist magnet and fast depopulating largely due to the soaring cost of living.

Venice’s city centre has less than 50,000 residents, compared to almost 100,000 in the late 1970s.

“When you empty a city of its inhabitants, you can turn it into a stage for big events,” Cacopardo told Reuters. 

“(But) the money that Bezos spends on this wedding does not end up in the pockets of Venetians. The owners of luxury hotels are not Venetians.”

Cacopardo was one of 30-40 activists who staged a protest in St Mark’s Square on Thursday, chanting “We are the 99 per cent” as a masked couple posed as bride and groom and one man climbed a pole to unfurl a banner reading “The 1 per cent ruins the world”.

Police intervened, forcibly removing the protesters.

The anti-Bezos front is planning a march on Saturday, and their activities have already led authorities to step up security and move the location of the closing party to a more secluded part of Venice, the Arsenale former shipyard.

Charlotte Perkins, an Australian tourist, said she could understand the locals’ resentment at their city being treated as a celebrity playground.

“I’d probably feel the same if I lived here,” she said.

But politicians, hoteliers and some other Venice residents are happy about the wedding, saying such events do more to support the local economy than the multitudes of day-trippers who normally overrun the city.

“We are happy and honoured to welcome Jeff Bezos and his consort Lauren Sanchez,” mayor Luigi Brugnaro said.

Bezos, Amazon’s executive chair, got engaged to Sanchez in 2023, four years after the collapse of his 25-year marriage to MacKenzie Scott.

Trade deals between US President Donald Trump’s administration and other countries could be done by the September 1 Labor Day holiday, US Treasury Secretary Scott Bessent says.

Bessent on Friday cited talks with 18 main United States trading partners and new revisions to a deal with China aimed at expediting rare earths shipments.

The United States sent a new proposal to the European Union on Thursday and India sent a delegation to Washington DC for more talks.

“So we have countries approaching us with very good deals,” Bessent said on Fox Business Network.

“We have 18 important trading partners. … If we can ink 10 or 12 of the important 18, there are another important 20 relationships, then I think we could have trade wrapped up by Labor Day,” Bessent said.

He did not mention any changes to a July 9 deadline for countries to reach deals with the United States or have tariffs spike higher, but has previously said that countries negotiating in good faith could get deals.

Trump told reporters at the White House on Friday that he could extend the tariff deadline or “make it shorter,” adding that within the next week and a half, he would notify countries of their tariff rates.

“I’d like to just send letters out to everybody: Congratulations. You’re paying 25 per cent” tariffs, Trump said in an apparent joke.

Bessent said the United States and China had resolved issues surrounding shipments of Chinese rare earth minerals and magnets to the US, further modifying a deal reached in May in Geneva.

As part of its retaliation against new US tariffs, China suspended exports of a wide range of critical minerals and magnets, upending supply chains central to car makers, aerospace manufacturers, semiconductor companies and military contractors around the world.

During US-China talks in May in Geneva, China committed to removing the measures imposed since April 2 but those critical materials were not moving as fast as agreed, Bessent said, so the US put countermeasures in place.

“I am confident now that we – as agreed, the magnets will flow,” Bessent said, adding that these materials would go to US firms that had received them previously on a regular basis. 

He did not disclose details of the latest agreement, which Trump administration officials said was reached earlier this week.

Efforts to resolve the dispute included a phone call between Trump and Chinese President Xi Jinping which led to teams from both sides meeting again in London, as negotiators try to end a trade war between the world’s biggest economies.

China’s commerce ministry said on Friday the two countries have confirmed details on the framework of implementing the Geneva trade talks consensus. 

It said China will approve export applications of controlled items in accordance with the law. 

It did not mention rare earths.

China has dual-use restrictions in place on rare earths which it takes “very seriously” and has been vetting buyers to ensure that materials are not diverted for US military uses, according to an industry source. 

This has slowed down the licensing process.

Indian government sources told Reuters that a trade delegation from New Delhi was back in Washington DC on Friday aiming to sew up a limited US trade deal ahead of the July 9 deadline.

Trump administration officials frequently count India among countries with which trade talks are at an advanced stage, along with Japan. 

But early optimism about a simple deal to reduce India’s high tariffs has hit roadblocks over disagreements on US import duties for car parts, steel and farm goods, Indian officials with direct knowledge said.

Trump said that his administration was looking to get a “full trade barrier dropping” deal with India.

“I’m not sure that that’s going to happen but as of this moment, we’ve agreed to that – go into India and trade,” Trump said.

The US will continue to put pressure on Australia to boost its defence spending after a pledge from European leaders, a former ambassador says.

NATO member nations have agreed to spend five per cent of their economic output on defence, and security more broadly, following demands by US President Donald Trump.

The US has called on Australia to massively increase the defence budget by tens of billions of dollars to 3.5 per cent of gross domestic product.

But Anthony Albanese is standing firm and has maintained Australia will decide its spending.

Former ambassador to the US Arthur Sinodinos said the best strategy for Australia was to engage with the US on extra capabilities that would best complement the two countries’ aims for the Indo-Pacific.

“The pressure from the US for allies and partners in the Indo-Pacific to increase defence spending will continue, particularly in the light of commitments made at the recent NATO summit,” he told AAP.

Mr Albanese is trying to secure his first face-to-face meeting with Mr Trump, after planned talks on the sidelines of the G7 summit earlier in June were cancelled due to the escalating conflict between Israel and Iran.

Analyst Andrew Carr said the federal government was very aware the Trump administration represented a more “vindictive” ally in Washington.

“Access to Australian facilities has often been to the Americans far more important than Australia’s own military capabilities,” he said.

“If we’re being seen to kind of ‘play ball’ on a whole range of political intelligence, basing and other areas, then the spending is going to be a small part of that story.”

The Pentagon’s 30-day review of its nuclear submarine deal with Australia under the AUKUS partnership is under way.

Mr Sinodinos said there was strong support for the security pact within the state department and Congress.

Defence analysts believe Mr Trump is unlikely to scrap the $368 billion submarine program altogether but might demand a bigger contribution from Australia for the US submarine industrial base.

Australia has already made a first $800 million down-payment of a total $4.7 billion for its plan to acquire nuclear-powered submarines.

Australians stranded in Iran say government advice to escape by crossing international borders is not feasible for the most vulnerable, amid fears a fragile truce between Israel and Iran could break.

Efforts to bring Australians home from the region have been complicated by border restrictions and flight path closures.

Perth engineer Vahid said his sister Azam and their parents Ezat, 70, and Hossein, 86, had travelled to Iran in June 2024 so his father could undergo health checks before returning to Australia as their permanent residency application was being processed.

But the family has been left stranded after airports were shut down and borders closed following the outbreak of fighting. 

To make matters worse, his parents’ visas have expired, making a return even more difficult.

“Dad is 86 years old and cannot travel long distances by car to the Azerbaijani border or Turkey to get to the Australian consulate because the consular office in Tehran is closed,” he told AAP on Friday.

He is pleading with the federal government for guidance after the only advice provided was to cross the border into Azerbaijan or to shelter in place.

The trip, which Azam, Ezat and Hossein would have to organise, would take at least 12 hours by car.

“There is no other option except to go through the border by car,” said Vahid, who asked for his surname not to be used.

“This solution is not feasible for them – for people like my parents at that age – it’s not feasible for them to travel long distances.”

The family is under immense stress, fearing the “fragile” ceasefire could shatter, and is unable to escape the capital Tehran to a safer location due to Hossein’s age.

“I experience lots of stress, maybe double the stress, over here because I can see the situation and I don’t have any options to help them,” Vahid said.

He urged authorities to issue his parents with new visas and to help his sister, an Australian citizen, return to her son in Sydney, saying the situation was “out of their hands”.

About 3200 Australians wanting to leave Iran have registered with the Department of Foreign Affairs. 

Iranian Community of Western Australia president Mohammad Bahar said those he had spoken with were happy with the advice and felt the government “never forgot them”.

DFAT says it is supporting Australians secure seats on commercial flights that are starting to resume out of Iran. 

Australians can leave Iran using border crossings into Azerbaijan, Turkey, Armenia or Turkmenistan, with the Smartraveller website adding those who can’t or don’t want to leave should monitor local developments and follow local advice.

A ceasefire was reached after 12 days of war, which erupted when Israel launched attacks on Iranian military and nuclear sites.

The assault triggered waves of retaliatory strikes before the US president intervened to put an end to the escalating violence.

Amazon founder Jeff Bezos and journalist Lauren Sanchez are set to exchange marriage vows at a ceremony in Venice, part of a three-day wedding extravaganza that has attracted dozens of celebrity guests but also protests by local activists.

Bezos, 61, and Sanchez, 55, will exchange rings on the small island of San Giorgio, opposite St Mark’s Square on Friday, accompanied by singing from Matteo Bocelli, son of the famous Italian pop-opera tenor Andrea Bocelli.

The ceremony will have no legal status under Italian law, a senior city hall official told Reuters, suggesting that the couple may have already legally wed in the United States, avoiding the bureaucracy associated with an Italian marriage.

The festivities, estimated to cost around $A75 million, culminate on Saturday with a party in a former medieval shipyard where Lady Gaga and Elton John are reportedly set to perform.

Bill Gates, Orlando Bloom, Tom Brady, the queen of Jordan, Oprah Winfrey, Kris Jenner and Kim and Khloe Kardashian as well as Ivanka Trump and Jared Kushner and Domenico Dolce from Dolce & Gabbana are among the 200-250 guests.

Amid tight security, there have been glimpses of the celebrities moving around town, the women in summer dresses and high heels stepping somewhat gingerly off boats ferrying them around the city’s canals.

Celebrations began on Thursday evening in the cloisters of Madonna dell’Orto, a medieval church in the central district of Cannaregio that hosts masterpieces by 16th-century painter Tintoretto.

“This magical place has gifted us unforgettable memories,” the bride and groom said on their wedding invitation, in which they asked for “no gifts” and pledged three million euros ($A5.4 million) in charity donations for three Venetian institutions.

Businesses have welcomed the glitz and glamour but it is being resisted by a local protest movement whose members resent what they see as Venice being gift-wrapped for ultra-rich outsiders. Bezos is No. 4 on Forbes’ billionaires list.

Giulia Cacopardo, a 28-year-old representative of the “No Space for Bezos” movement, complained that the needs of ordinary people were being neglected in a city that is a tourist magnet and fast depopulating largely due to the soaring cost of living. Venice’s city centre has less than 50,000 residents, compared to almost 100,000 in the late 1970s.

“When you empty a city of its inhabitants, you can turn it into a stage for big events,” Cacopardo told Reuters. “(But) the money that Bezos spends on this wedding does not end up in the pockets of Venetians. The owners of luxury hotels are not Venetians.”

A planned anti-Bezos march has forced the move of Saturday’s party to a more secluded part of Venice, the Arsenale former shipyard.

But politicians, hoteliers and other Venice residents are happy about the wedding, saying that such events do more to support the local economy than the multitudes of day-trippers who normally overrun the city.

“We are happy and honoured to welcome Jeff Bezos and his consort Lauren Sanchez,” said Mayor Luigi Brugnaro, who sent white roses to the bride and a maxi-bottle of Amarone luxury red wine to the groom.

Bezos, Amazon’s executive chair, got engaged to Sanchez in 2023, four years after the collapse of his 25-year marriage to MacKenzie Scott.