3 Of The 5 Richest People In The World Are Making New Plays In The Real Estate Market
Real estate has long been considered a lucrative investment option for building wealth, and some of the world's wealthiest individuals are no strangers to this fact.
In fact, three of the five richest people in the world are currently making unique plays in the real estate industry. From buying up vast swaths of land to investing in cutting-edge technology, these billionaires are setting themselves apart in a field that has been a cornerstone of wealth creation for centuries.
Legendary investor Warren Buffett is betting on a strong housing market recovery. His recent purchase of 1.25 million shares in Louisiana-Pacific Corp suggests he believes the housing market has bottomed out.
Berkshire Hathaway's latest SEC filing reveals a 7% stake in the homebuilding solutions company, worth $417.1 million, indicating Buffett sees value in the firm, which could see growth as the housing market recovers.
This latest move underscores Buffett's commitment to investing in companies that stand to benefit from long-term trends, such as the growing demand for housing in the coming years.
With his track record of successful long-term investing, his bet on the housing market could be a positive sign for the sector, the broader economy and the individual investor since new companies have made it possible to gain exposure to the real estate market with minimal capital.
If Buffett’s bet is right, a $100 investment (or more, depending on your appetite) in a rental property could prove to be a smart play.
Amazon.com founder Jeff Bezos is no stranger to investing in the housing market either — he backed a company that allows investors to purchase shares of single-family rentals in up-and-coming neighborhoods for as little as $100.
The Bezos-backed company, which had other investors including Uber Technologies Inc CEO Dara Khosrowshahi and Salesforce Inc Co-CEO Marc Benioff, purchases properties with the highest appreciation potential, which are then listed online where nonaccredited investors can purchase shares with a single click to earn passive income through rent while their shares appreciate in value.
Mostly known for his electric car company Tesla, space exploration company SpaceX and his recent acquisition of Twitter, Elon Musk has his eyes set on a new income stream deriving from real estate.
Musk could be partnering with the construction firm, Lennar Corp to build a residential area for employees of his companies.
The project, dubbed "Project Awesome," will consist of 110 homes in Bastrop County, Texas, near the Boring Company and SpaceX facilities. The subdivision has already been approved for development and will address the growing need for housing in the area due to the thousands of jobs created by Musk's companies.
By: AJ Fabino | Yahoo Finance \ February 28, 2023