Curious if anyone has any thoughts on his recent purchases. Is he moving away from paper assets because he sees a correction coming? Or is he just in the mood to buy and there's nothing more to it?
He's spent about 360M USD in real estate purchases in 2 weeks, the other one being a 122M mansion in London.
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if you're worth $10,000,000,000 $400,000,000 on houses is still only 4% of your net worth...
I think if he was "diversifying" into real estate, it wouldn't be in the form of just a few ultra-luxury properties. I think he's just buying nice things to have nice things, because billionaires can do that.
Don't forget to add on top of that his https://commercialobserver.com/2019/01/citadel-grows-by-120k-sf-at-lls-…</a">doubling down on 425 Park Ave for Citadel. I also thought it was strange that he would buy up two uber-expensive properties at this point in the residential real estate cycle. As HighlyClevered mentioned, he might just be enjoying himself.
After the horrible period that many hedge funds just experienced, Ken here is just flexin'
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