At Least Two Additional Billionaires Have Purchased Homes In Miami In The Past Few Months

There are only 2,095 billionaires in the world according to Forbes, and many of them keep flocking to Miami.

The latest to purchase homes here are tech investor Peter Thiel and Hedge Fund manager Dan Loeb.

Thiel controls an LLC that purchased two adjacent homes on Rivo Alto Island in September for $18 million, according to Business Insider.

Loeb is said to be the buyer of 6440 North Bay Road, which sold for $20 million, according to The Real Deal.

Thiel co-founded Paypal and was an early Facebook investor. He recently met with Miami mayor Francis Suarez at his new home.

Other billionaires that have recently purchased in Miami include Shutterstock founder Jon Oringer and Hedge Fund manager Ken Griffin.

 

Thiel’s reported new home:

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Anonymous
9 months ago

I hope they invest money in Miami and bring their companies with them

Anonymous
8 months ago

Cute. Their job is to suck as much money out of it as they can.

The Paypal mafia uniting to build tunnels. LOL!

Anonymous
8 months ago

Have you never used PayPal before? How about purchased or sold something on eBay? It’s easy to be jealous of another’s good fortune, it’s much harder to take responsibility for oneself and make something of their life.

Anonymous
8 months ago

The only thing he’s probably sold was on Backpage.

Trees On The Roof Guy
8 months ago

I know yo life sucks, only explanation

Anonymous
9 months ago

They better pay their taxes

Anonymous
9 months ago

Stop being so jealous…

Anonymous
9 months ago

They do, and follow the tax guidelines to get the most deductibles and write-offs like they should.

Anonymous
8 months ago

Then it should be easy to increase their tax rate

Anonymous
8 months ago

You obviously don’t pay property taxes. If they raise the mileage rate then they raise everyones tax bill. Instead of being upset over some else’s productivity, go and innovate and make money so then you can do with it as you please (I.e give more money to the government)

Anonymous
8 months ago

They don’t. They hide their money in banks in Switzerland.

Anonymous
9 months ago

Peter Thiel is one of the few sane tech billionaires left in California. He is good friends with Elon back when they developed PayPal. Maybe Peter will convince Elon to buy a home here as well. Here’s hoping Elon will need a home base while overseeing the Brickell tunnel project.

Anonymous
9 months ago

Forget it, Miami is not getting a Brickell tunnel… at least not in your lifetime.

Anonymous
9 months ago

Could be my age, but at 23 I am still an optimist. I definitely don’t think that it’ll happen anytime soon but in 20 or 30 years who knows.

Anonymous
8 months ago

Let’s see. More rich folks moving in jacking up propety values and reducing low and middle income buyers options. Mia should learn from NY, LA, SanFran and other city’s that have gone thru this. Seems like Americans dont learn from our mistakes.

Anonymous
8 months ago

I respectfully disagree. Being rich by itself does not influence much in terms of the housing crunch. I would argue that the highly restrictive zoning laws and rent stabilization schemes have done more to distort the housing markets in the cities you mention than the number of millionaires or billionaires that inhabit them. Whether it is the rich NIMBYs in SanFran that demand the preservation of their 1910s/20s row houses to maintain “character” or the rent control groups in NY that pressure city officials to freeze rents, in the end, the result is the same; higher property prices, inflated rents and, a glass ceiling for would-be new residents (except the rich who can afford to spend the money).

Miami can avoid this by encouraging flexible zoning laws that embrace change and urban development. Reducing some of the red-tape and restrictions like parking minimums can encourage developers to build affordable apartments for people to own or rent.

Anonymous
8 months ago

I don’t know where you’re from but a lot of rich people have made Miami their home before you were born.

Anonymous
8 months ago

Geez, and a lot of people like you talk sh!t about communism?

Anonymous
8 months ago

Ignorance on economics abounds on both sides of the political spectrum. With regards to communism, it should appear sh!ty for everyone except for the sycophants who support it.

Anonymous
8 months ago

Country folk getting excited upon seeing some billionaires come to town. Pathetic. Yaaawwwn!

Anonymous
8 months ago

What is pathetic is your pretentious attempt to degrade people you disagree with. County folk in Miami? Unless you are talking about the residents of Homestead, try again.

On a side note, be kinder to the county folk you so snobbishly look down on. It might not have occurred to you but those people provide the almonds for your almond milk and the soy for the tofu that you buy at Whole Foods.

Anonymous
8 months ago

Edit *country

Anonymous
8 months ago

Check this out:

Miami has the largest economy in Florida, by far. Palm Beach, Boca Raton, Bal Harbour, and other ritzy Miami enclaves regularly make the list of the most expensive zip codes in the U.S. It’s no surprise then, that 22 billionaires call the Miami area home.

Try Googling sh!t sometimes before you run off at the mouth!

Anonymous
8 months ago

They come here running from the land of the homeless, the land of the poop, the land of no punishment if you steal less than 900$, the land of the lock downs but still high Covid rates, the land of taxation ( main reason )the land that protects criminal if they’re illegals and the most socialistic estate of the Union

Then …. they vote for the same thing they’re running from

They’re millionaires but they are young people, not old enough to fulfill Winston Churchill quota of if you are older and still socialist, you have no brain ( they do have brains for creating a business but not for politics)

They are members of MACA!
Make America California At last !!
🥸🤗😡💩

Anonymous
8 months ago

Then they should do well living up there around Trump.

Dan
8 months ago

Why are people so toxic in almost all of these comment sections? Chill.

Anonymous
8 months ago

Who. Cares.

Anonymous
8 months ago

What is the mayor doing to offset all the inequalities that will arise from the new billionaires and multimillionaires living here? Unless we fix affordable housing, homelessness, education and infrastructure, we are another NYC and CA in the making. Actually worst, because we have zero state and city taxes to help offset it.

Anonymous
8 months ago

Agree 100%

Anonymous
8 months ago

We have zero state and city taxes?!?! Do we not have a state sales tax of 6% which is then supplemented by an additional percent here in Miami-Dade? How about our local real estate taxes? It’s incredible how many people gobble up the narrative that capitalism is a zero sum game. The millionaires and billionaires that are so often vilified are the ones who have developed innovations that improve our quality of life. (I am writing this on an IPhone, a mini computer for goodness sakes! 30 years ago it would have been science fiction) On top of their ingenuity, they provide employment opportunities and often give back in the form of charitable organizations.

These millionaires and billionaires are setting roots in Miami by purchasing properties and patronizing our local businesses. The annual property tax bill for these mega mansions are in the hundreds of thousands of dollars and the sales tax that is collected on all the goods and services they pay for bring in lots of money to state/city coffers. What you don’t want is what happened in Detroit where most of the tax base (I.e high income earners) abandoned the city and left Detroit with massive deficits which contributed to its demise as a center of industry.

Anonymous
8 months ago

Governor DeSantis signed bills last year deregulating accessory dwelling units designated as affordable, and allowing affordable housing in non-residential zoning districts. Local governments have to comply within a year. Density and breaking down the perils of Euclidean zoning. Two birds with one stone.

Anonymous
8 months ago

Billionaires and millonaires have been moving in an out of Miami before you were born, so stop being such an alarmist.

Anonymous
8 months ago

“inequalities” the word “du jour “ of the left !!!! 🤗

Anonymous
8 months ago

“Tyranny” the word “du jour” of the imagining sociopathic Right!!!