Billionaireism describes both the pathology that affects you when you are so wealthy that you're effectively above consequences and above moral consideration for others, and the pathologies that having a society dominated by such people inflicts on the rest of us.
"This is a system shock," says Nigel Green, CEO of deVere Group. "You have a material energy supply disruption and a structural shift toward fragmentation."
The One Big Beautiful Bill Act made the bonus depreciation permanent, allowing company executives to write off 100 percent of the cost of an investment that depreciates in value, like a humble fleet van or an eight-figure business-class jet.
Semi-private flights, also known as fly-sharing or charter-by-the-seat services, are realistically the cheapest way to fly private, as they allow you to pay for one seat rather than the entire aircraft.
Ben Affleck and Jennifer Lopez purchased a contemporary Georgian-style estate in Beverly Hills for $60.8 million in May 2023, marking the most expensive celebrity real estate transaction that year.
I have not had a single person tell me that they're going to leave New York City, and I am transacting at a level that is significantly higher than before (Mamdani) was mayor, or before we knew he was going to become mayor, Elevated Team at Compass co-founder Zeve Salman told HousingWire. I have not felt a quantitative slowdown on what's going on in the market. It's been quite the opposite.
The street's ultra-luxury towers - from the first generation of supertalls west of Sixth Avenue that shaped the skyline, to mixed-use developments eastward 'driving the next phase of growth' - offer a dense concentration of cultural and lifestyle capital, paired with direct access to Central Park.
Earlier this week, former Howard Hughes CEO David Weinreb agreed to rent his West Chelsea penthouse for $177,500 a month, an eye-popping figure that followed a $95,000-a-month lease at a Naftali Group building on the Upper East Side in December. Data on trophy rentals is tough to pin down, but this is likely among the most expensive leases ever inked in New York City. The two hefty leases came as inventory for Manhattan's trophy rentals—which appraiser Jonathan Miller defines as the top 1 percent of the market, with rates starting at $25,000 a month—was down more than 40 percent year-over-year in January, as new leases climbed (albeit, at a more modest pace).
