Mark Zuckerberg is reportedly purchasing a luxury waterfront property on Indian Creek Island, a highly exclusive Miami enclave, according to Fortune. The Meta CEO's move places him in the same neighborhood as other high-net-worth individuals, with property prices on the island starting at $60 million and potentially ranging from $150 million to $200 million for a property like Zuckerberg's, as reported by Mick Duchon, a Miami Beach-based real estate agent.
The purchase adds to Zuckerberg's growing portfolio of luxury homes. Indian Creek Island, a man-made island near Miami, boasts only 41 lots and approximately 84 residents.
In other news, the relationship between gold prices and real interest rates has become unpredictable, according to Apollo chief economist Torsten Slok, as reported by Fortune. Historically, the price of gold and real interest rates have been inversely correlated, but that pattern has broken down since the Federal Reserve began raising interest rates in 2022. Slok views this as a sign of investor unease about the economy. Gold is often considered a safe-haven asset during times of market uncertainty.
Meanwhile, AI's potential impact on white-collar jobs is becoming more apparent, according to Vox. The article suggests that advancements in artificial intelligence are poised to disrupt the economy, politics, and social lives.
In other news, according to BBC Business, Sarah Ferguson, while still the Duchess of York, sought financial advice from Jeffrey Epstein while he was incarcerated. Emails reveal her desperation, including considering bailouts and selling jewelry, and highlight Epstein and an associate's disrespectful approach to her situation.
Finally, Nature News reported on The Mise En Scène Company's acquisition of film rights, Toyota's delayed privatization bid, the passing of actor Bud Cort, and Prince William's conservation efforts. The FDA's rejection of a flu vaccine and a scientific abstract on asymmetric catalysis and synthetic chemistry methodology were also covered.
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