Charles Schwab heir builds $35 million wave pool oasis in Cabo where surf dreams and $6 million homes go hand in hand
Cabo Real Surf
is coming to
Cabo San Lucas
, Mexico in 2026. It's being made by
Michael Schwab
, who is the son of the
Charles Schwab
investment company founder, according to a realtor report.
The main attraction is a
wave pool
that costs $35 million just by itself. A company named Endless Surf will run the wave pool. Houses at Cabo Real Surf will start at $2.5 million and can go up to $6 million.
Wave pools like this are becoming super popular in
luxury housing
projects around the world, like in Brazil, Europe, the US, and more. These projects offer surfing and housing together, kind of like how golf courses are added to high-end communities, as per reports.
Play Video
Pause
Skip Backward
Skip Forward
Unmute
Current Time
0:00
/
Duration
0:00
Loaded
:
0%
0:00
Stream Type
LIVE
Seek to live, currently behind live
LIVE
Remaining Time
-
0:00
1x
Playback Rate
Chapters
Chapters
Descriptions
descriptions off
, selected
Captions
captions settings
, opens captions settings dialog
captions off
, selected
Audio Track
Picture-in-Picture
Fullscreen
This is a modal window.
Beginning of dialog window. Escape will cancel and close the window.
Text
Color
White
Black
Red
Green
Blue
Yellow
Magenta
Cyan
Opacity
Opaque
Semi-Transparent
Text Background
Color
Black
White
Red
Green
Blue
Yellow
Magenta
Cyan
Opacity
Opaque
Semi-Transparent
Transparent
Caption Area Background
Color
Black
White
Red
Green
Blue
Yellow
Magenta
Cyan
Opacity
Transparent
Semi-Transparent
Opaque
Font Size
50%
75%
100%
125%
150%
175%
200%
300%
400%
Text Edge Style
None
Raised
Depressed
Uniform
Drop shadow
Font Family
Proportional Sans-Serif
Monospace Sans-Serif
Proportional Serif
Monospace Serif
Casual
Script
Small Caps
Reset
restore all settings to the default values
Done
Close Modal Dialog
End of dialog window.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
¡El azúcar en sangre no viene de los dulces! Conoce al enemigo de la glucosa
Azúcar en sangre
Mirar Ahora
Undo
Michael Schwab is a big-time surfer himself. He once asked his dad what to invest in, and his dad told him, 'Invest in what you love.' Michael said, 'That's surfing,' and his dad supported him. After that talk, Michael ended up investing in Kelly Slater's Wave Company, as mentioned in the report by realtor.
Now Michael is starting his own surf project, Cabo Real Surf. Apart from the wave pool, Cabo Real Surf will also have a clubhouse, restaurants, a wellness center, fitness classes, adventure trips, and a golf course, as per realtor report.
Live Events
Teen surfer Erin Brooks, who is already super famous, has bought a multi-million-dollar house at Cabo Real Surf. Erin said the private wave pool is a game changer, and she also loves the fitness center, beach club, tennis courts, and golf course for keeping her in top shape. The whole thing, Cabo Real Surf, is planned to be open by 2026, as stated by the reports.
FAQs
Q1. Who is building Cabo Real Surf?
Michael Schwab, son of the Charles Schwab founder, is behind the project.
Q2. What is special about Cabo Real Surf?
It features a wave pool worth $35 million and high-end homes all in one location.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
21 minutes ago
- Time of India
LIC's goal is 'Insurance for All' by 2047, policy numbers should grow from Q2: R Doraiswamy, MD & CEO
Life Insurance Corporation of India 's new chief executive R Doraiswamy is betting on a diversified product mix and higher sales through bancassurance channels to keep the state behemoth ahead of private rivals. In his first interview since taking over, Doraiswamy discusses with ET his plans on increasing the share of non-participating products to 40% of annual premium equivalent-a switch that is key to boosting profitability. Edited excerpts: Your market share in individual policies is 39% by count and 63% by premium. How do you see policy volumes growing? Finance Value and Valuation Masterclass Batch-1 By CA Himanshu Jain View Program Finance Value and Valuation Masterclass - Batch 2 By CA Himanshu Jain View Program Finance Value and Valuation Masterclass - Batch 3 By CA Himanshu Jain View Program Artificial Intelligence AI For Business Professionals By Vaibhav Sisinity View Program Finance Value and Valuation Masterclass - Batch 4 By CA Himanshu Jain View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program The broader goal is "Insurance for All" by 2047. The industry saw a drop in volumes after last year's product rule changes, but our sales have stabilised. We expect growth in policy numbers to turn positive from the second quarter onwards, with stronger momentum in the third and fourth quarter. Market share being a by-product of growth, when LIC grows at a rate higher than the rest of the industry, my market share is going to go up. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Undo LIC's margins improved 150 bps in the first quarter to 15.4%. Is it sustainable and when can you match private sector levels of around 25%? Three factors drove our margin expansion-higher non-PAR contribution, expense optimisation, and revised commission structures following the October 1, 2024 norms on products. There were some changes in some products, we had to be compliant with the surrender value norms, tweak the agency commission from being totally front-ended to introducing some deferred payments of commission. Our margins also follow a seasonal pattern, rising from the first quarter to the fourth because PAR profits are booked in the last quarter. We have consciously shifted from a 7% share in non-participating (non-PAR) annual premium equivalent (APE) at the time of listing to around 30% now. This could rise further to 35-40% in the near term, before we balance the mix back towards participating (PAR) products. Live Events Which products will drive growth this year? Customer preferences vary. Younger buyers lean towards guaranteed non-par protection products, while others prefer savings-oriented participating or non-participating plans. ULIPs see strong demand in rising markets and a slowdown when markets dip. This year, we expect ULIPs to grow alongside non-PAR savings and protection products. We try to fill product gaps and cater to all segments from micro-insurance to high-ticket savings. Our recent launch, Jeevan Utsav, has already set a trend in the market. Over the next few months, we will bring out three to four innovative products across categories. What is your vision for LIC? LIC is a major financial institution player in the country, and they are playing a major role in developing India's economy for the last 69 years. If you look at what we have to do, our objectives are very clear, extend insurance coverage across the country at affordable prices, and mobilise savings for the welfare of policyholders while delivering decent returns. Globally, we are already the fourth-largest life insurer, and see whether we can still grow more. LIC's share of bancassurance is less than 7% despite several bank tie-ups. Given open architecture in agencies, how do you plan to improve channel mix? Our individual agency network is the backbone of LIC. It is a distribution strength we will continue to nurture. That said, we are changing in other channels, bancassurance and corporate. Our bank assurance premium share has risen from less than 3% two years ago to 6.77% today. We expect it to cross 10% in the near future. LIC has recently invested large sums in Adani bonds and SBI QIP. How much investment is likely to come into equity markets from LIC this year? When you have such large investable funds to be invested, you are looking at various options which are giving you a decent return. We need to look at both debt as well as equity in the proportion that we are supposed to invest. But at many times you find that you will do more on one side or the other based on availability. We have to have a clear rating of those instruments, paying certain dividends and stuff like that. The regulator has allowed insurers to hedge through derivatives. What are your plans? LIC has already started doing FRA (forward rate agreements), and now we are actively looking at bond forwards. Once we have enough tie-ups on that, we will be moving to bond forwards to hedge our interest rate risk only in perspective of our guaranteed protection. On the equity front, we are still weighing the options. The Centre is talking about reducing stake to 90% in LIC by FY27 by selling 6.5%. How much of that will happen this year? This decision will be taken by the government. LIC owns a strategic stake in IDBI Bank . Will you continue to own a strategic share in the bank or exit completely eventually ? The vision of LIC is to be a transnationally competitive financial conglomerate. That is a vision, if you look at this. So, when you are looking at a financial conglomerate, you would like to have a bank as a major partner, a housing finance company, or a mutual fund. But the Act and regulations do not permit LIC to have a bank of its own. Whereas a bank can have an insurance company, an insurance company can't promote a bank. That is what the problem is. RBI has already made their position clear. What is the status of the health insurance venture? We have the options in front of us. We are doing due diligence into existing SAHI (standalone health insurance) companies, which we can have a stake at. Only thing is, we are not fixing a particular time limit. We are examining those options.
Time of India
32 minutes ago
- Time of India
16 yrs on, Sectors 50 & 63 struggle for basic facilities
Chandigarh: More than 16 years after their establishment, Chandigarh's Sectors 50 and 63 are still grappling with inadequate civic amenities. From the absence of markets, banking and postal facilities to the lack of public transport and poor BSNL mobile connectivity, residents say they feel like second-class citizens compared to neighbouring areas and even many villages in the Union Territory. The two sectors have no facility of Apni Mandi/Kisan Market, playgrounds, E-Sampark centres, and bus services. No space has been provided for banks, ATMs or post offices, allegedly due to the delay in auctioning commercial land. "There are about 2,100 flats here but we have no facility for a market," Kuldeep Singh, a Sector 63 resident of Chandigarh Housing Board Society, said. Poor BSNL mobile network coverage has only compounded the problems. "In today's digital age, everything, from banking to pension life certificates, depends on OTPs. Without proper mobile signals, how can we even think of digitalisation?" asked Jai Goel, a Sector 50 resident. Parks are in a neglected state. "Delayed garbage collection and infrequent grass cutting make the area unsafe for children and walkers during monsoon, with reptiles often spotted," said VP Behl of Sector 50. Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like The Most Successful Way of Intraday Trading is "Market Profile" TradeWise Learn More Undo by Taboola by Taboola Councillor Rajinder Kumar Sharma acknowledged the absence of a proper market. "Half our sector is residential, half is commercial. I will set up a meeting with officials to address this," he said. Deputy commissioner Nishant Kumar Yadav assured that the issue would be reviewed as per the master plan and the status of shop auctions will be checked. Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and silver prices in your area.
Time of India
37 minutes ago
- Time of India
Tesla arm applies to supply electricity in UK: Regulator
LONDON: Tesla's energy subsidiary has applied to become an electricity supplier in Britain , a first such move by tech billionaire Elon Musk 's operations outside the US. A notice on the UK energy regulator's website confirmed a weekend media report that Tesla Energy Ventures Ltd had applied for a licence to supply electricity. The subsidiary of Musk's electric carmaker Tesla currently provides electricity across Texas . Finance Value and Valuation Masterclass Batch-1 By CA Himanshu Jain View Program Finance Value and Valuation Masterclass - Batch 2 By CA Himanshu Jain View Program Finance Value and Valuation Masterclass - Batch 3 By CA Himanshu Jain View Program Artificial Intelligence AI For Business Professionals By Vaibhav Sisinity View Program Finance Value and Valuation Masterclass - Batch 4 By CA Himanshu Jain View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program A document formalising the UK application, initially revealed by the Sunday Telegraph, is dated July 18 and signed by Andrew Payne, Tesla's director of energy for Europe. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 15 most beautiful women in the world Undo Tesla Energy, which specialises in solar power and battery storage, did not immediately respond Monday to AFP's request for comment regarding the application on regulator Ofgem's website. Tesla in 2020 obtained a licence to produce electricity in the UK, notably using solar panels, without selling it directly to consumers. Live Events News of the latest application comes as Tesla suffers a global decline in sales of its cars owing to increased competition and a backlash over Musk's collaboration with President Trump . UK registrations of the brand dropped to 987 in July from 2,462 one year earlier, according to trade data.
