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Why Billionaires Are Heading To Miami

via CBS Mornings
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Amazon founder Jeff Bezos recently relocated to Miami, joining a growing list of billionaires moving to the city.

This trend reflects Miami’s appeal as a post-pandemic destination, with 73 business leaders now residing there.

Bezos’ move, along with other billionaires’, is attributed to the city’s lifestyle benefits, favorable tax implications, and Miami’s potential to become a financial capital. (Trending: Biden’s Mental Decline Getting Even Worse)

“I see the transformation happening in Miami, and I think the biggest quality is the people, OneWorld Properties CEO Peggy Olin.

“You have immigrants from all over the world, not only, even though primarily from Latin America, but this is home to people from all over the world,” she continued.

“So that really sets up this field for the transformation and the growth of Miami in a very positive way,” predicted the billionaire.

Property Markets Group’s Ryan Shear said, “You get more space, better quality of life, and then you add in a better financial situation.”

Adding, “The biggest Achilles heel that people always used to knock Miami about, about just being a fantastic place to vacation or visit, that is probably the most fundamental change you’ve seen over the past, I would say, five years.”

“When I look at Miami, I think about the fact that you have this huge foundation, this very solid foundation of international finance that already exists in the city, headquartered in Brickell,” added the Ytech CMO.

“Ken Griffin laid out a destination that’s a possibility. Now, I think, to get there, it requires a lot of work and investment by the business leaders and the community so we can develop a depth of financial services and the talent pool that cities like New York and London have developed over decades…. But it’s not going to be given, he continued.

“It’s going to have to be earned,” warned the billionaire.

“I’ve always called Miami and South Florida like the Hong Kong of the West,” recalled Olin.

“We have all the characteristics that could lead to that and really be a major player in the world. Not only from the diversity, the multilingual [standpoint], but the banking institutions, the proximity with airports,” she continued.

“We have one of the largest ports in the United States… All of this cultural phenomenon that’s happening to transform the city and make it grow up with the same velocity of the influx of people and those expectations of a city, I think the city’s done fantastic with that,” said Olin.

The influx of influential figures is seen as a sign of Miami’s ongoing transformation into a global city.

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