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CNN —Homes belonging to Sean “Diddy” Combs were searched by authorities Monday because he is a target of a federal investigation carried out by a Department of Homeland Security team that handles human trafficking crimes, according to a senior federal law enforcement official briefed on the investigation. Agents were authorized to search for documents, phones, computers and other electronic devices that hold data or videos, the second law enforcement source said. A law enforcement source earlier told CNN that Monday’s searches were related to an ongoing sex trafficking investigation. Law enforcement officers ride a vehicle near a property belonging to Sean "Diddy" Combs on Monday in Los Angeles. At least one armored law enforcement vehicle was seen arriving at the Los Angeles property, and agents were processing paperwork on card tables outside the Miami-area home.
Persons: Sean “ Diddy ” Combs, Combs, HSI, , ” Combs, Sean, Diddy, Eric Thayer, Casandra “ Cassie ” Ventura, ” Ben Brafman, Mr, Ventura, ” Weeks, , videographer Rodney “, Rod ” Jones, Jones, Shawn Holley, Department of Homeland Security’s, , CNN’s Josh Campbell, Holmes Lybrand, Elizabeth Wagmeister, Carlos Suarez Organizations: CNN, Homes, Department of Homeland Security, Southern, of, Miami, Star Island, Mobile, Star, Homeland Security, HSI –, Department of Homeland Locations: of New York, New York, Los Angeles, Miami, New York’s, Star
Combs was never detained but spoke to and cooperated with authorities. The authorities did not say whether Mr. Combs was a target or what criminal charges they were investigating. “This unprecedented ambush — paired with an advanced, coordinated media presence — leads to a premature rush to judgment of Mr. Combs,” Mr. Dyer said. “There has been no finding of criminal or civil liability with any of these allegations. Mr. Combs is innocent and will continue to fight every single day to clear his name.”
Persons: Sean Combs, , Aaron Dyer, “ Mr, Combs, , Mr, ” Mr, Dyer Organizations: Homeland Security Investigations, Miami, Fox Locations: Los Angeles, Miami Beach, Fla
New Yorkers have historically moved to Florida and Texas to save money on taxes and other expenses. AdvertisementIn December, Rahul Sen Sharma told Business Insider that he was moving from New York to Miami — and bringing his company with him. New Yorkers moving to Texas for many of the same reasons will also face sticker shock. The savings gained by moving to Florida and Texas are dwindlingUtilities, gas, and housing are just a few expenses that have gotten pricier in Florida and Texas since 2019. "The property-tax percentage rate is higher," Marie Bailey, a Texas real-estate agent who moved from California, told Business Insider's Alcynna Lloyd.
Persons: , Rahul Sen Sharma, Sen Sharma, BI's Phil Rosen, Jeff Bezos, Ken Griffin, SmartAsset, Dallas, Alexander Spatari, Realtor.com, Jaclyn DeJohn, SmartAsset's, Wager, Robert Walsh, Marie Bailey, Insider's Alcynna Lloyd Organizations: Service, Miami —, Bloomberg ., New, Miami, relocators, Miami . Miami Beach, Bloomberg, Business, Sunshine State, CBS, Fort Locations: Florida, Texas, New York, Miami, NYC, Austin, Florida and Texas, Dallas, Miami ., Manhattan, Fort Lauderdale , Florida, Fort Lauderdale, California
Miami Beach announced it's "breaking up" with spring break tourism. But data shows that Miami Beach wasn't among the three trending destinations this March anyway. Young revelers typically flock to Miami Beach in March for weeklong vacations. But Miami Beach wasn't at the top of tourists' minds this year anyway, according to travel company Booking Holdings. Jeff Greenberg/Getty ImagesBased on Booking Holdings' data, Miami Beach peaked at No.
Persons: Orlando snagged, , Young, George Rose, Joe Burbank, John F, Gary Hershorn, Jeff Greenberg Organizations: Miami Beach, Miami Beach wasn't, Service, Booking Holdings, Las Vegas, New York City, , Vegas, Walt Disney, Orlando Sentinel, Tribune, Getty Images Orlando, Disney, Universal Studios, Kennedy Space Center, Orlando, York City, Liberty, Beach, Holdings, Miami Locations: Las Vegas , New York City, City, Miami, Orlando, New York, New York City Las Vegas, Nevada, Florida, Las Vegas, American, Cocoa Beach . New York City, Myrtle Beach, Cancún, Mexico
Police made 573 arrests in Miami Beach last spring break and confiscated over 100 guns, per The Wall Street Journal. For some drivers, spring break is their ticket to a vacation of their own, but for others, the spring break slowdown has thrown their earnings for a loop. Many, like Jared S., 27, say they don't actively seek out spring breakers, though sometimes spring break rides can be profitable. AdvertisementBreaking up with spring breakMike McGrath, 57, is glad spring break is more under control this year. AdvertisementCapitalizing on spring break crowdsRenee said maximizing her earnings during spring break comes down to knowing when to be in certain areas.
Persons: Trent T, South Florida — Uber, it's, he's, Trent, He's, I'm, You'll, Jared S, Juan, Mike McGrath, McGrath, David Lowell, he'll, Lowell, Renee, Lyft, John D, John, Hiedi, Handford, Mark, there's, Marian O, Eliezer, Edgar Organizations: Service, South Florida —, Trent, Miami Beach, Police, Street, West Palm Beach, Miami, Delray, Facebook Locations: South Florida, Miami, Miami Beach, Florida, Fort Lauderdale, Palm Beach, Cuba, West Palm, South Beach, Delray Beach, Tennessee, Ubers, Boca Raton, Nicaragua, Venezuela
NEW YORK (AP) — Michael Tilson Thomas is to conduct the opening subscription program of the New York Philharmonic season, three years after the conductor announced he was being treated for a brain tumor. He has continued to lead an active schedule but with fewer performances: Tilson Thomas led four concerts with the New York Philharmonic in March 2023. He was founder of the New World Symphony in Miami Beach, Florida, and music director of the San Francisco Symphony from 1995-2020. The philharmonic will be without a music director for two seasons. Pittsburgh Symphony Orchestra music director Manfred Honeck will lead an opening gala on Sept. 24 that includes Tony Award winner Cynthia Erivo.
Persons: — Michael Tilson Thomas, Emanuel Ax, Tilson Thomas, Jaap van Zweden, Gustavo Dudamel, Dudamel, Kate Soper, Philip Glass’s, Ken, David Masur, Kurt Masur, Augusta Read Thomas, Manfred Honeck, Tony, Cynthia Erivo, Herbert Blomstedt, Brahms, Hilary Hahn, Soprano Renée Fleming, Rod Gilfry, Kevin, , Juanjo Mena, Yuja Wang Organizations: New York Philharmonic, New, San Francisco Symphony, Los Angeles Philharmonic, Pittsburgh Symphony Orchestra Locations: Miami Beach , Florida
CNN —In travel news this week: passenger–pleasing airports, cool streets around the world, France’s frog-leg crisis and Ireland’s best food and drink. World’s best airportsThe busy beavers at Airports Council International have gathered nearly 600,000 surveys from travelers at more than 400 airports around the world and have revealed the passengers’ favorites. What’s Japan’s most international city? DenisTangneyJr/iStockphoto/Getty Images Topeka, Kansas: Choose Topeka doesn’t just focus on remote workers. Ron Buskirk/Alamy Stock Photo Rochester, New York: The Greater ROC Remote program offers $10,000 in grants and incentives (plus another $9,000 for home-buying grants).
Persons: South Carolina • Gerald R, Mohammed, Patrick’s, you’ll, , Saint Patrick, , they’ve, John Hope Franklin, Tyler Layne, Ali Majdfar, Roberto Galan, Ron Buskirk, Denis Tangney Jr, Walter Bibikow, Ann Arbor, Paul Brady, Titanic, “ It’s Organizations: CNN, Council International, Spartanburg International, Ford International, Mohammed V International, Turkey • Guayaquil International, Salalah, Oman • Sultan Hasanuddin International, Green, of, US Centers for Disease Control, John Hope Franklin Reconciliation, Getty Images, Topeka doesn’t, Getty, Shoals, ROC Remote, Images, Miami Beach Locations: Greenville, South Carolina, Michigan, Rome, Italy, Morocco • Izmir Adnan Menderes, Turkey, Ecuador, Oman • Sultan, Indonesia • Yogyakarta, Indonesia, Asia, Tokyo, Spain, Valencia, of Europe, Happy, Ireland, South Korea, Tulsa , Oklahoma, Tulsa, Tulsa West Virginia, New, West Virginia, Getty Images Indiana, Evansville, Getty Images Topeka , Kansas, Topeka, Kentucky, Mayfield, Graves, Alabama, Tuscumbia, Rochester , New York, Images Alaska, Alaska, Sitka, Getty Images Michigan, Ann
Escalating its aggressive push for a quieter spring break, Miami Beach declared a three-night curfew beginning on Friday, citing the large crowds it expects over what has usually been the peak weekend of the season. The curfew will run from midnight through 6 a.m. each night until Monday, Alina T. Hudak, the city manager, announced on Friday morning. It will apply only to South Beach, the part of the city most popular with tourists and revelers. “We did not make this decision lightly, but it should not come as a surprise,” Ms. Hudak said in the announcement. “We have been very clear about our intent to protect the public from the dangerous mayhem that has accompanied spring break crowds in recent years.”The sale of alcoholic beverages for “off-premises consumption” — read: on the street — will also be prohibited after 6 p.m. each day the curfew is in place.
Persons: Alina T, , ” Ms, Hudak Organizations: Miami Beach Locations: South Beach
Two of the people we spoke with moved from New York City, one from London, and one from Seattle. Citadel's Miami office overlooks the Biscayne Bay and downtown Miami. Citadel and Citadel Securities also cover the cost of a weeklong visit to Miami for employees and significant others who are considering moving there. Cupjin Huang just started his job as a quant researcher for Citadel Securities this year. AdvertisementCupjin Huang, a quant researcher at Citadel Securities, in Miami with his dog Rufus.
Persons: , it's, Ken Griffin, Thoma Bravo, Goldman Sachs, Griffin, Lin, Manuel Miranda's, Hamilton, Maksim Solovjov, Miami doesn't, Rich Cummings, there's, Liz Boyhan, Cupjin Huang, Huang, Rufus, Pitbull, that's, Cummings, Solovjov, It's, you'll, Alexander Spatari, Inrix, she's, haven't, Fortune, he's, Boyhan, I've, fiancé Organizations: Service, Southeast Financial Center, Citadel Securities, Business, Bloomberg, Citadel, Citadel Citadel, Miami Dolphins, Miami, Prix, Citadel's, Downtown, Alibaba, BI, Key, New, New York City, Transportation, Fairchild, Botanic, Miami - Dade, Miami Beach, Google, UBS Locations: Miami, Biscayne Bay, Fisher, South Beach, York, Wall, New York, United States, New York City, London, Seattle, Magic, Bay, Florida, Downtown Miami, Brickell, Chihuahua, Hawaii, , Orlando, Los Angeles, Coral Gables, Fairchild, Italian, Tua, Solovjov, Manhattan
Last year, my friends and I spent our spring break an hour north of the madness of Miami Beach. Instead, we headed about an hour north of Miami toward the quiet oceanside community Hillsboro Beach for our own relaxing spring break. AdvertisementWe'd chosen to skip the ragers and bad behavior associated with spring break, especially spring break in Miami. If we were hungover on a crowded Miami Beach, we would've missed out on forming this unlikely friendship that crossed generational divides. He told us he was surprised by our choice for an alternative spring break, but he understood.
Persons: untraditional, , We'd, Molly McGuigan, would've, we'd, Uber, he'd, Miami partygoers —, He'd Organizations: Service, Sunshine State, Miami Beach, Miami partygoers Locations: Miami Beach, Miami, Florida, oceanside, Hillsboro Beach
CNN —Miami Beach may be breaking up with spring break, but spring break isn’t moving on just yet. Video Ad Feedback Miami Beach wants to break up with spring break 00:50 - Source: CNN“This isn’t working anymore,” a young actor says in a viral YouTube video announcing the “breaking up” campaign. So you become hopeful again.”‘We hope it’s an amicable separation’On a visit to Miami Beach on Tuesday, the Republican governor stood with Miami Beach Mayor Steven Meiner to announce the deployment of state troopers to enhance security. In 2022, the City of Miami Beach similarly imposed a midnight curfew after two spring break shootings left five people injured on Ocean Drive. The area seemed tame, she said, compared to previous “crazy” spring break stays in Fort Lauderdale, about 35 miles north.
Persons: Ron DeSantis, , David Wallack, ” Wallack, Miami Beach’s, Wallack, Miami Beach Mayor Steven Meiner, ” DeSantis, , “ We’ve, ” Meiner, Wayne Jones, ” Jones, Jones, Black Floridians, weren’t, Katie Ryan, Marta Lavandier, ’ ” Ryan, Avery Caimes, marveled, Mark Evenson, it’s Organizations: CNN, Miami, Florida Gov, Sunshine State, Miami Beach, Republican, Miami Beach Mayor, Miami City Commission, Miami Beach Police Department, Miami Beach police, Black Locations: Florida, Miami Beach, Miami, South Beach, Panama City, Daytona Beach, Fort Lauderdale, City of Miami Beach, South Florida, City, Biscayne Bay, Connecticut, Minnesota
More than two decades ago, Wayne Jones traveled to Daytona Beach, then Florida’s spring break mecca, not to party but to study. Maybe Miami Beach, which had its own unruly scene every year over Memorial Day weekend, could learn a thing or two. Officer Jones is now Chief Jones of the Miami Beach Police. Last year, the police made more than 500 arrests and confiscated more than 100 guns over the spring break period. “This is going to be the best spring break ever,” he said in a recent interview at his South Beach office.
Persons: Wayne Jones, Jones, Organizations: Daytona, Miami Beach Police Department, Miami Beach Police, Miami Beach, South Locations: Daytona Beach
Miami Beach has launched an ad campaign "breaking up" with spring break tourism. Last year, two people were fatally shot during spring break, leading Miami Beach to declare a state of emergency. Police made 573 arrests in Miami Beach last spring break, as well as confiscated over 100 guns, The Wall Street Journal reported. Though many travelers have already made plans — and may not have seen the ad campaign — the "breakup" could reduce disorder. Still, some commenters on YouTube and X noted that these restrictions may not stop spring break travelers from coming.
Persons: , it's, Dan Gelber, Miami Beach Mayor Steven Meiner Organizations: Miami Beach, Service, YouTube, Police, Street Journal, Miami Beach's, Beach, Miami Beach Mayor Locations: Florida, Miami, Miami Beach
But on a muggy morning last May, a building of another sort, far rarer now in the city, was pleasantly dark and cool inside. This particular two-story, four-bedroom house, following the traditional style, is shaded and discreet. The 7,000-square-foot home’s focal point is, instead, inside: a large rectangular courtyard bursting with palms and giant elephant ear plants and bordered by a colonnade shaggy with wisteria. If the building’s more modern neighbors — glass cubes with manicured lawns — seem somehow both sealed against the elements and vulnerable to them, this house feels solid and purpose-built. On warm days, the doors are left open and the rooms fill with the salty sea breeze.
Locations: Miami, Biscayne Bay, Spain, Latin America
Toeing the line in Miami BeachAmerica’s corporate elite were everywhere in Miami at the Future Investment Initiative conference, Saudi Arabia’s latest bid to showcase its extensive wealth and deepen ties with Western business. DealBook’s Lauren Hirsch was on hand to report on the financiers and Hollywood A-listers who made the trip. The Saudis are using their vast oil wealth to become one the world’s biggest investors and forge closer relationships with Wall Street, Silicon Valley and more. (So too did former Trump officials including Steven Mnuchin, the former Treasury secretary; Mike Pompeo, a previous secretary of state; and Jared Kushner, Trump’s son-in-law.) Attendees mingled over wine, which is banned in Saudi Arabia, and Carbone’s spicy rigatoni.
Persons: Jamal Khashoggi —, Prince Mohammed bin Salman, DealBook’s Lauren Hirsch, Steve Schwarzman, Blackstone, Barry Sternlicht, Alex Karp, Brian Grazer, Gwyneth Paltrow, Steven Mnuchin, Mike Pompeo, Jared Kushner, Trump’s Organizations: Future Investment Initiative, Saudi, Hollywood, Starwood, Palantir, Trump, Treasury Locations: Miami Beach, Miami, Silicon Valley, Saudi Arabia
The World(MSCI All Country World Index weighting)Entire U.S. stock market: 63%Japan, UK, Canada, France, Hong Kong/China combined: 17.5%Magnificent 7: 17%Source: Dimensional FundsThat seems crazy, no? For example, in the mid-1960s the concentration of the top 10 was over 40% of the S&P 500. Investors who own the S&P 500 don't have to pick those winners; they just go along for the ride. Second, U.S. stocks are global market leaders, and when a small group becomes market leaders it almost always means the U.S. stock market outperforms the world. The U.S. stock market, which was roughly 40% of the global market capitalization a short while ago, is now roughly 50% of global market capitalization.
Persons: Gregory Rowe, Berkshire Hathaway, Lilly, It's, Organizations: New York Stock Exchange, Berkshire, Broadcom, Nvidia, Eck Semiconductor, Dimensional Fund Advisors, FS Investments, IBM, American Express, General Electric, Polaroid, Xerox, U.S, Baidu, SAP, Siemens, United, Shell, AstraZeneca, HSBC Locations: New York City, Miami Beach, Japan, UK, Canada, France, Hong Kong, China, U.S, Germany, United Kingdom
On the agenda today:But first: How to wear the runway — on your own budget. "It's still all about simplicity," "America's Next Top Model" winner Eva Marcille told Business Insider at the Badgley Mischka runway show. And while some will pay a premium for designer fashion, others want to experiment with a dupe first. AdvertisementTens of thousands of young, high-earning professionals abandoned New York City and California during the pandemic, taking their coastal salaries to cities like St. Louis. BI headed to New York Fashion Week, where we asked attendees to name the status symbols they've been seeing and coveting.
Persons: , Dia Dipasupil, — Beyoncé, Blake Lively, Uma Thurman, It's, Eva Marcille, YouGov, Gen Z, Connie Zhou, Kim Kardashian, Tom Brady, Tyler Le, Louis, Mary Altaffer, Louis Vuitton, Tiffany, Van Cleef, — we've, David C Tomlinson, Muhammad Ali, Stevie Nicks, Jim, Jon Stewart's, Joi, Marie McKenzie, Dan DeFrancesco, Jordan Parker Erb Organizations: Service, Getty, New York, Vegas, Fontainebleau Miami Beach, Dior, Netflix, Warner Bros, Charlotte , North Carolina —, Paramount Locations: Fontainebleau, Fontainebleau Las Vegas, Sin City, New York City, California, St, New, Dior, Beverly, Phoenix, Scottsdale, Paradise, Beverly Hills of Arizona, Paradise Valley, Charlotte , North Carolina, New York
A 30,000-square-foot lot is for sale on Miami's exclusive Palm Island for $23.9 million. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . And now the land where his final home stood on Miami's exclusive Palm Island is for sale for a cool $23.9 million. Become Legendary/Dina GoldentayerThe property, which is listed by Douglas Elliman agent Dina Goldentayer, has 100 feet of water frontage and a view of downtown Miami. According to the listing, a house up to 15,000 square feet can be built on the property.
Persons: Al Capone, , Dina Goldentayer, Douglas, Todd Glaser, Al, Capone, Mae Coughlin, Shaquille O'Neal, Gloria Estefan, Nick Nolte, Ana Gabriel Organizations: Service, Miami Herald, Miami Beach, Herald, Bettmann, Getty Locations: Miami, Al Capone's Miami, Palm
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitwise's Matt Hougan and DACFP's Ric Edelman on the growing adoption of spot bitcoin ETFsMatt Hougan, CIO at Bitwise Asset Management, and Ric Edelman, founder of the Digital Assets Council of Financial Professionals, join CNBC's Bob Pisani at the Exchange ETF conference in Miami Beach to discuss the growing adoption of spot bitcoin ETFs and where they fit in a diversified investment portfolio.
Persons: Matt Hougan, DACFP's Ric Edelman, Ric Edelman, Bob Pisani Organizations: Asset Management, Digital Assets, Financial Professionals, Exchange ETF Locations: Miami Beach
To grow, the ETF industry has to expand the offerings of active management and devise new ways to entice investors. The big topics in 2024: Bitcoin, AI, Magnificent 7 alternativesIn 2024, the industry is betting that the new crop of bitcoin ETFs will pull in billions. Financial advisors are divided on whether to jump inTen spot bitcoin ETFs have successfully launched. Inflows into bitcoin ETFs to date have been modest, but bitcoin ETFs are being viewed by some advisors as the first true bridge between traditional finance and the crypto community. Jason Pereira, senior partner & financial Planner, Woodgate Financial, is speaking on how financial advisors are using artificial intelligence.
Persons: Matt Hougan, Steve Kurz, David LaValle, Ric Edelman, Edelman, Gary Gensler's, bitcoin, Jason Pereira, Pereira, Roundhill's, Alex Zweber, Eric Veiel, Rowe Price, Brian Portnoy, Neil Bage, feely Organizations: ETF, LIV, Miami, Super, Advisors, JPMorgan, bitcoin, Galaxy, Edelman, Digital Assets, Financial Professionals, SEC, Apple, Microsoft, NVIDIA, China ETF Locations: Fontainebleau, Miami Beach, China, bitcoin
As S&P approaches 5,000, this one trend has been unwavering
  + stars: | 2024-02-08 | by ( Bob Pisani | ) www.cnbc.com   time to read: +3 min
It's been a bumpy road from 4,000 to 5,000, but the overall trend stays with big cap tech. Talk about timing: It launched just as the S & P 500 was recovering from the banking crisis, and MAGS has been one of the star ETF performers of the last year. A bumpy road from 4,000 to 5,000 The S & P 500 had been comfortably over 4,000 from mid-2021 into mid-2022, when rising rates pushed the broad index below 4,000. This is true not just this year, but since the S & P went over 4,000 at the end of March, as has international investing. If you own the S & P 500, which has become tech-dominant, you are happy.
Persons: It's, Dave Mazza, MAGS, Mazza, ETFEdge.cnbc.com Organizations: Exchange ETF, Technology, Microsoft, Nvidia, Apple, AMD, Communication Services, Banks, Care, Staples, Energy, Edge, Miami Beach Locations: Miami Beach, Roundhill
The Miami Beach Edition hotel on Collins Avenue, where conferences for Goldman parnters are being held. Inside the Edition Hotel in Miami, which is playing host to the Goldman Sachs partner conference this week. The Faena Hotel along Collins Avenue is also playing host to some Goldman partners and events this week. A spokesperson for Goldman Sachs declined to comment about the Miami gathering this week. Are you a Goldman Sachs or Wall Street insider?
Persons: Goldman Sachs, confab, , Goldman, Denis Coleman, Avinash, Goldman parnters, Emmalyse, David Solomon, Solomon, Lloyd Blankfein, he's, Reed Alexander Big, Solomon —, John Waldron —, Solomon himself, Emmalyse Brownstein Goldman, George Lee, Alison Mass, Trevor Noah, decamped, Reed Alexander Organizations: Magic City, Miami Beach, Business, Wall Street Journal, Goldman, Wall Street Locations: New York, London, Miami, Collins, New York City, South Florida, ralexander@businessinsider.com
In Bal Harbour, Fla., an oceanside village north of Miami Beach, a luxury mall says it wants to help tackle one of the nation’s — and Florida’s — most intractable problems: a lack of affordable housing. It is an unexpected move for a retail temple where Gucci, Chanel and Rolex are on offer. Affordable? But in a rare instance of bipartisan agreement, the Florida Legislature passed a law last spring intended to encourage projects like the one that the owner of the mall, Bal Harbour Shops, has in mind. And nowhere has seen more backlash to date than little Bal Harbour.
Persons: Chanel Organizations: Miami Beach, Rolex, Florida Legislature, Locations: Bal Harbour, Fla, oceanside, Miami, Florida, Bal
Lamborghini sold more than 10,000 vehicles last year for the first time ever and Ferrari had a more than 17% increase in revenue. But customers purchasing Lamborghinis, Rolls-Royces and Bentleys have an even wider array of infinitely customizable paint colors and interior materials, to start with, than carmakers offer for less expensive brands. If the customer has a favorite shirt, for example, the car paint could be matched to the fabric color. At Dixon’s Rolls-Royce dealership three quarters of the roughly 90 cars sold each year include some degree of custom options, she said. While she and Rolls-Royce’s design team can provide guidance, in the end, the choices have to be the customer’s.
Persons: Royce, Ferrari, Lamborghini, Bentley, , Stephan Winkelmann, Lewis Hamilton, Altrata, Royce Cullinan, Javier Gonzalez Lastra, , ” Gonzalez Lastra, Pietro Frigerio, Kellyn Dixon, Dixon, Bugatti Chiron, Bugatti, Chiron, Lamborghini’s Winkelmann Organizations: California CNN, Lamborghini, Ferrari, Bentley, Royce, CNN, Ferrari’s, Tema, Volkswagen, Ford, Art Basel Miami Beach, Rolls Royce, Bugatti, Bugatti Bugatti Locations: Irvine, California, Newport Beach , California, Irvine , California, Goodwood
Billionaire Starwood CEO Barry Sternlicht sees losses on office properties hitting $1 trillion, per Bloomberg. Office values have plummeted as remote work proves to be a lasting legacy of the pandemic. AdvertisementThe ailing office market is headed for $1 trillion of losses, billionaire and Starwood Capital CEO Barry Sternlicht said. Per Bloomberg, Sternlicht said at the Global Alts conference in Miami Beach that US office properties, once a $3 trillion market, are worth about $1.8 trillion now. The cratering values have been the result of remote work being solidified as a lasting legacy of the COVID-19 era.
Persons: Barry Sternlicht, , Per, Sternlicht Organizations: Starwood, Bloomberg, Service, Starwood Capital, Per Bloomberg, Global, Business Locations: Miami Beach
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