Comment on Billionaires create compounds for privacy and status — and their neighbors get richer, too

Billionaires create compounds for privacy and status — and their neighbors get richer, too

Indian Creek, Florida.Shutterstock/Richard CavalleriBillionaires are buying bundles of properties for several advantages.The ultrawealthy set a new price for the market, sending ripple effects to nearby areas.Their presence can also attract unwelcome visitors to the areas.The real-estate portfolio of the ultrawealthy is typically expansive: Coastal homes, overseas vacation getaways, and a handful of homes scattered in cities where they frequent.However, billionaires like Jeff Bezos, Taylor Swift, and Mark Zuckerberg have recently been snatching up multiple properties in the same place.Over the course of two years, Bezos spent over $200 million on three properties in an exclusive South Florida enclave 11 miles from Miami.

 

Comment On This Story

Welcome to Wopular!

Welcome to Wopular

Wopular is an online newspaper rack, giving you a summary view of the top headlines from the top news sites.

Senh Duong (Founder)
Wopular, MWB, RottenTomatoes

Subscribe to Wopular's RSS Fan Wopular on Facebook Follow Wopular on Twitter Follow Wopular on Google Plus

MoviesWithButter : Our Sister Site

More Business News