The Luxury Missive Of The Palm Beach Hedge Fund Association
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News & Views For The Affluent Lifestyle
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More Palm Beach Billionaires Than Ever As 57 Of The World's Richest Have Strong Ties To Our Island
At least 57 billionaires have strong residential ties to Palm Beach, according to a Palm Beach Daily News analysis of the 2023 Forbes list of the world’s wealthiest people.
Palm Beach gained two more billionaires over the past year, with at least 57 of the world’s wealthiest people now confirmed to have strong residential ties to the island, according to a Palm Beach Daily News analysis of just-released data from Forbes.com. That's a new Palm Beach record.
The majority of the Palm Beach billionaires — 24 in all — saw their estimated net worth rise over the past year, while 22 lost money, including former President Donald Trump. Another nine saw their their wealth remain flat, and two new to were new to the overall Forbes list. (See the complete Palm Beach list below.)
In all, the Palm Beach billionaires’ personal fortunes total $444.5 billion, the analysis showed.
The island’s new billionaire homeowners include fashion icon Tom Ford, who last year sold his eponymous company for a reported $2.8 billion to Estee Lauder Cos. The income from that deal ostensibly vaulted Ford into a spot among the world’s wealthiest, with a net worth estimated at $2.5 billion. In December, he paid $51 million for his Palm Beach home in the Estate Section.
Other new-to-the-Palm-Beach-list billionaires who recently bought properties included:
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Gina Rinehart, widely said to be Australia’s wealthiest woman with a mining fortune estimated at $27 billion, who was linked to the purchase of two North End seaside homes for a combined price recorded at $101 million in December and January.
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Dr. Herbert Wertheim, an optometrist and investor with a net worth estimated at $4 billion, who bought a Midtown condominium for a recorded $17.9 million in February.
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Private equity tycoon Robert F. Smith, with a fortune estimated estimated at $8 billion, in December paid a recorded $23 million for an investment home in the Estate Section...
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Only On Palm Beach
Steven Tananbaum's $3 million Dollar Damian Hirst Sculpture Smashed By Out Of Control Rolls Royce
Astonishing photos shared by the Palm Beach Police show the car suspended from the seawall with its nose buried in the sand.
Tananbaum built GoldenTree Asset Management into a $47billion hedge fund. As of 2023, he is worth $2.2billion, according to Benzinga. Artnews hailed Tananbaum and wife Lisa as one of the Top 200 Art Collectors of 2022.
The Tananbaums said the sculpture known as 'Sphinx', part of a series called 'Treasures from the Wreck of the Unbelievable' by Hirst, has suffered serious damage, according to Yahoo News.
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Society Pursuits
A Luxurious Evening With Jessica Julian At An Historic West Palm Villa
Our Deal Making social with Jessica Julian was a huge success! Many, many thanks to our luxury partners @jonwine @patriciarobalinoofficial @blissmarket @southbeachbrew @conniptiongin @craigshelly @catoctincreek for making the social the fantastic fun time that it was.
A Luxurious Evening With Jessica Julian In An Exclusive West Palm Beach Villa!
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What An Amazing Time At The Charity Polo Game & Asado!
What an phenomenal Saturday afternoon Asado and Polo with the BGCPBC!!
We were treated to an amazing polo game featuring superstars Nacho Figueras & Nic Roldan all while raising money for a desperately needed cause. Check out the photos here
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Welcome To Palm Beach Pursuits!
Palm Beach Pursuits is the monthly luxury publication of the Palm Beach Hedge Fund Association.
We are committed to bringing the finest in global and local luxury to our affluent membership base of ultra high net worth investors, family offices, hedge fund managers, and alternative asset professionals.
Partner With Us!
We work with a wide variety of luxury brands & financial companies who wish to become thought leaders to our affluent members & mailing list.
Sponsorship opportunities of the PBHFA, as well as banner/advertorial promotion on Palm Beach Pursuits are currently available.
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Yachting Pursuits
Luxury Yacht Purchases Remain Stable Amidst Economic Slowdown
The Yachting industry has been relatively resilient amidst the economic slowdown caused by the Fed’s decision to hike rates. The market for luxury yachts has remained stable as a downpour of wealthy individuals continue to flock Florida’s beaches.
According to industry experts, the luxury yacht industry is expected to continue to show resilience, with demand for yachts projected to increase in the coming years. The pandemic has led to an increase in demand for domestic travel, and more people are expected to turn to luxury yachts as a safe and private mode of Vacationing. In addition, yacht manufacturers are investing in eco-friendly and sustainable yachts, as the industry faces increasing pressure to reduce its carbon footprint.
Miami-based private yacht lender, East Harbor Financial, specializes in providing financing options for those looking to purchase luxury yachts for personal or business use. The company's expertise in the field has made it a go-to option for clients seeking a seamless and hassle-free financing experience. East Harbor is known for its commitment to providing clients with personalized solutions that meet their unique needs.
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Social Pursuits
What A Night With UbiquityVX!!
An absolutely amazing time at our deal making social! Check out the photos…
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Gaming Pursuits
This Team Beat The Unbeatable Game Of Roulette
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One spring evening, two men and a woman walked into the Ritz Club casino, an upmarket establishment in London’s West End. Security officers in a back room logged their entry and watched a grainy CCTV feed as the trio strolled past high gilded arches and oil paintings of gentlemen posing in hats. Casino workers greeted them with hushed reverence.
The security team paid particularly close attention to one of the three, their apparent leader. Niko Tosa, a Croatian with rimless glasses balanced on the narrow ridge of his nose, scanned the gaming floor, attentive as a hawk. He’d visited the Ritz half a dozen times over the previous two weeks, astounding staff with his knack for roulette and walking away with several thousand pounds each time. A manager would later say in a written statement that Tosa was the most successful player he’d witnessed in 25 years on the job. No one had any idea how Tosa did it. The casino inspected a wheel he’d played at for signs of tampering and found none.
That night, March 15, 2004, the thin Croatian seemed to be looking for something. After a few minutes, he settled at a roulette table in the Carmen Room, set apart from the main playing area. He was flanked on either side by his companions: a Serbian businessman with deep bags under his eyes and a bottle-blond Hungarian woman. At the end of the table, the wheel spun silently, spotlighted by a golden chandelier. The trio bought chips and began to play...
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Brooklyn & Nelson enjoying cigars
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David & Victoria Beckham Celebrate Easter At Nelson Peltz's Palm Beach Home
Victoria and David Beckham are reportedly set to join their eldest son Brooklyn and his wife Nicola Petlz for an Easter dinner over the weekend.
The married couple are said to be reuniting with their daughter-in-law's billionaire family at their £76M Palm Beach mansion for the dinner, which is being described as a 'peace summit'.
In the year since the aspiring chef and his heiress wife's lavish nuptials, the family has been plagued with rumours of a fallout between the latter and mother-in-law Victoria.,,,
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Wristwatch Pursuits
These are the most expensive watches of the 7 richest billionaires – Humblest of all, Bill Gates wears a $1,200 Tag Heuer whereas Elon Musk’s Richard Mille costs more than two Tesla Model S cars and trumping them all is the $6.5M Patek Philippe of the world’s richest man
Bernard Arnault – Tiffany Patek Philippe 5740 (US$6.5 million)
The world’s wealthiest man Bernard Arnault also takes the top spot for his watch. The CEO of French luxury conglomerate LVMH has a taste for luxury fashion, of course, so he opts for an extremely rare Tiffany Patek Philippe Nautilus 5740, per Highsnobiety.
Elon Musk – Richard Mille 029 (up to US$250,000)
Richard Mille is also a watch of choice for Tesla and SpaceX founder Elon Musk, per Superwatchman, besides his Carrera Calibre 1887 SpaceX Chronograph, a SpaceX collaboration with Tag Heuer back in 2012.
His Richard Mille 029 is housed in a grey titanium case and bezel, with a black dial, silver-tone hands and black rubber strap. It uses a skeletonised automatic winding movement with hours, minutes, seconds, oversized date display at 4 o’clock and variable-geometry rotor.
Chrono24 estimates that this model’s value can range all the way up to nearly US$500,000 for diamond-paved editions, with the above mentioned more “everyday” model still worth US$250,000 in mint condition...
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Top 10 places in the U.S. to buy a beach house based on vacation rental performance, home value and more
from CNBC
In April, vacation rental management platform Vacasa released its annual ranking of the top 10 best places to buy a beach house in the U.S. based on the highest cap rates or yearly rate of return on investment.
To determine the ranking, Vacasa did the following:
- Analyzed home sales and vacation rental performance data from the last 12 months...
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Sponsorship opportunities of the PBHFA, as well as banner/advertorial promotion on Palm Beach Pursuits are currently available for select financial firms & luxury purveyors.
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