Overall, the decline of billionaires doesn’t bode well for real estate (Credit: iStock; Illustration by Kevin Rebong for The Real Deal) The number of billionaires around the world is shrinking — and so are their bank accounts. According to a new report from the research firm Wealth-X, the global population of billionaires declined 5.4 percent […]
Zillow revenue soars — but so do losses
Zillow CEO Rich Barton (Credit: iStock) Zillow Group revenue soared 51 percent during 2019’s first quarter, bolstered by the company’s growing iBuying program, the company reported Thursday. But the company’s net loss also ballooned to $67.5 million, compared to $18.6 million a year ago. Its total revenue for the quarter rose to $454.1 million, up […]
Startups, rejoice: SoftBank is planning another $100B Vision Fund
Softbank CEO Masayoshi Son (Credit: Getty Images and iStock) SoftBank, the biggest backer of unicorn real estate startups, is planning its second Saudi-backed $100 billion Vision Fund. The second fund will be about the same size as the current one, the Wall Street Journal reported. Less than two years after the launch, the company has […]
Virtual brokerage eXp Realty’s profit soars
eXp World Holdings CEO Glenn Sanford (Credit: iStock) Virtual brokerage eXp World Holdings trounced on its bricks-and-mortar rivals during the first quarter, posting a $14.5 million profit — up 132 percent compared to 2018. Parent company eXp World Holdings said the firm pulled in revenue of $157 million during the first quarter, up 153 percent […]
Zell on Trump: The president’s tax documents showing massive losses “don’t tell much of a picture”
Donald Trump and Sam Zell (Credit: Getty Images) Billionaire developer Sam Zell, no stranger to controversy himself, sees nothing wrong with President Donald Trump’s tax returns, which according to a New York Times report showing when Trump’s businesses foundered, he paid almost no income tax for a decade. Zell said the documents “don’t tell much […]
Trump posted more than $1B in losses from 1985 to 1994: report
Donald Trump in 1987 (Credit: Getty Images) In the decade following 1985, President Donald Trump reported losses of more than $1 billion to the Internal Revenue Service, generated in part by investments in real estate and an airline shuttle, according to the New York Times. Citing tax documents, the Times’ investigation details how Trump’s personal […]