Latest news with #Cardone
Yahoo
4 days ago
- Business
- Yahoo
Grant Cardone Lost ‘Half' of His $65 Million Mansion in Cali Wildfire, Says ‘Revolt and Protest' New Plan to Turn Land Into Low-Income Housing
Prominent real estate investor and media personality Grant Cardone is at the center of a heated political and housing controversy after his Malibu mansion was severely damaged in the catastrophic Palisades fires of January 2025. Cardone has since emerged as a leading critic of California's disaster response, blasting state officials for what he calls years of 'mismanagement, incompetence, and missed priorities' both in the handling of the wildfires and the state's subsequent recovery plans. Cardone's $65M Malibu Mansion in Ruins Cardone's renowned Carbon Beach property, which was listed for sale as high as $65 million before the fire, stood as a symbol of Malibu affluence. Firefighters fought valiantly to save what they could, but videos and photos posted by Cardone show extensive devastation: blackened ruins of a palatial lounge, a scorched oceanfront deck, and large portions of the 9,500-square-foot home reduced to rubble. Cardone publicly stated he lost 'half' of his mansion to the flames. More News from Barchart This Self-Driving Car Stock Is Surging on a Major Nvidia Boost UnitedHealth Stock Spirals Lower Again. Don't Buy the Dip. UNH Stock Falls as UnitedHealth Confirms DOJ Probe. How Should You Play Shares Here? Markets move fast. Keep up by reading our FREE midday Barchart Brief newsletter for exclusive charts, analysis, and headlines. The estate, which Cardone personally renovated with over $1 million in upgrades, was 'the last one standing among the row of scorched mansions' on Carbon Beach, according to images shared in the aftermath. The Cardone family, known for their ties to the Malibu and Santa Monica communities, is now among thousands forced to rebuild or relocate. Cardone's Fierce Public Critique Cardone quickly pivoted from personal tragedy to public advocacy, taking to social media to rail against California's leadership. He dismissed the prevailing narrative that climate change was the primary culprit behind the wildfires, arguing instead that the true causes were 'government incompetence, neglected infrastructure, overregulation, and spending billions on pet projects instead of fire prevention.' In a viral tweet, Cardone charged: 'California Fires will be blamed on Climate Change but do NOT believe it. These fires will produce $100's of billion in losses due to incompetence, corrupted budgets, an oppressive coastal commission, over regulation, bizarre environmental initiatives, homeless camps, and freak liberal agendas all combined with NO COMMON SENSE,' he wrote, directly blaming Governor Gavin Newsom for failing to invest in long-term solutions such as burying electrical lines, managing forest floors, and expanding water access. In television appearances and subsequent interviews, Cardone escalated his attacks, calling on Governor Newsom to resign and urging affected residents to join a class action lawsuit against state and local authorities. He alleged the Los Angeles Department of Water and Power shared blame due to suspected electrical failures that may have sparked the fires. Cardone's rallying cry — 'Revolt and protest' — has resonated with a segment of fire-ravaged Californians, drawing both support and speculation about his future political aspirations. Battling California's Response: Accusations of a 'Land Grab' The controversy intensified with the introduction of California's Senate Bill 549, which enables the state to acquire burned properties for affordable redevelopment and establishes a 'Resilient Rebuilding Authority.' Cardone's response was unequivocal: 'You guys think California 'land grab' was just a conspiracy?... California passes bill to buy Palisades fire-ravaged homes.' He maintains that the measure, compelling the sale and redevelopment of luxury lots into low-income and multi-family units, erases property rights and exploits disaster for governmental expansion. It's an accusation state officials deny, citing the urgent need for safe, affordable housing and climate resilience. A Divided Community While Cardone garners support for his outspoken activism, critics note his position as a multimillionaire homeowner contrasts with families desperate for affordable housing and those who lost far more in the fires. Nonetheless, his willingness to pursue legal action — he's reportedly fielding over 1,000 responses from other potential plaintiffs — could shape the coming legal and political battle over California's wildfire recovery. As rebuilding begins, Cardone's mansion, now little more than charred frames and ash, stands as a dramatic backdrop to a wider debate: whether California's bold new policies represent hope and recovery, or, as Cardone insists, a failure of government stewardship and respect for property rights. On the date of publication, Caleb Naysmith did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on
Yahoo
7 days ago
- Business
- Yahoo
Grant Cardone Explains Why The 401(k) Is 'The Biggest Scam' In Finance
Financial personality Grant Cardone has shared a bunch of hot takes throughout his career, including his latest tidbit about 401(k) and IRA plans. He refers to these retirement accounts as "the biggest scam" in finance. Cardone is bound to get some resistance since these accounts have been touted as valuable investment vehicles for many years. However, Cardone expands on his argument in a way that will leave some people considering alternative strategies to save money for retirement. Don't Miss: —with up to 120% bonus shares—before this Uber-style disruption hits the public markets $100k+ in investable assets? – no cost, no obligation. You Can't Get Out Cardone asserts that retirement plans make you a prisoner to the bank since you can't withdraw your money at any time. You must be at least 59 ½ years old before you can make penalty-free withdrawals. Some people would benefit a lot more if they could access the same money sooner. Cardone also mentions that there's a lot of friction on your way out. You will have to pay income taxes on any withdrawals you make from a traditional retirement account. The tax rates can get quite high depending on where you live. Most people know that if you avoid taxes on retirement account contributions, you will have to pay taxes when you make withdrawals. The opposite applies to Roth retirement accounts. These accounts tax you on the way in, but you don't pay any taxes on withdrawals, capital gains, or dividends. You also have to make required minimum distributions, which the IRS defines, in case you get any ideas about hoarding money in your retirement accounts to prolong your tax payments. The IRS only has RMDs in place for traditional retirement accounts. Roth accounts get a free pass from this rule. Trending: Named a TIME Best Invention and Backed by 5,000+ Users, Kara's Air-to-Water Pod Cuts Plastic and Costs — You Don't Know Which Companies Are Receiving Your Money Retirement accounts typically let you choose from some funds, but most investors do not know what they are funding. Cardone explains that your retirement account may be funding big pharma, military campaigns, and other initiatives that you may not support. Large corporations often rely on investors to remain solvent and fund new projects. Your money may be going to shady organizations if you stick it in a fund without reviewing the holdings. There's also the risk of losing money in your retirement account due to administrative fees. Some 401(k) providers charge admin fees that are close to 2%, and that doesn't even include a fund's expense ratio. These fees can eat up all of your profits and result in a net loss in your 401(k) plan. That doesn't even include the amount you'll have to pay in taxes once you are ready to withdraw your Estate Is A Tax Haven Unsurprisingly, Cardone mentioned real estate as a viable solution to retirement accounts. You can use leverage to get real estate sooner and generate monthly cash flow from your property. Real estate comes with a bunch of write-offs that you won't find with other investments. It's important to remember that real estate requires a lot of work, especially if you get started with a bunch of single-family homes. You will have to handle phone calls, regularly check properties, deal with various issues like leaks and mold, make property repairs, and do a bunch of other things. Real estate gets easier if you can invest in apartment buildings since all of the units are located in the same place. Real estate is not for everyone, but the people who master this asset can unlock some of the best tax advantages in the entire tax code. Read Next: Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die." Image: Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? APPLE (AAPL): Free Stock Analysis Report TESLA (TSLA): Free Stock Analysis Report This article Grant Cardone Explains Why The 401(k) Is 'The Biggest Scam' In Finance originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. 登入存取你的投資組合
Yahoo
15-07-2025
- Business
- Yahoo
Grant Cardone Outlines How To Get $10 Million And Reveals Key Mistakes: 'They Think They Should Buy A House'
Real estate investor Grant Cardone advocates for buying rental properties to boost cash flow and benefit from long-term appreciation. He's used that strategy to amass more than $5 billion in assets under management, and he recently laid out the path to reaching a $10 million net worth. Cardone highlighted best practices and common mistakes that people make, especially when they start to make some money. "They think they should buy a house," Cardone bemoans while mentioning that a house is a terrible investment. Here's what you should do to amass $10 million, according to Cardone. Don't Miss: Named a TIME Best Invention and Backed by 5,000+ Users, Kara's Air-to-Water Pod Cuts Plastic and Costs — This AI-Powered Trading Platform Has 5,000+ Users, 27 Pending Patents, and a $43.97M Valuation — It didn't take long for Cardone to mention that the U.S. dollar has lost 25% of its value since the pandemic. Keeping your money in a high-yield savings account will increase the nominal value of your account. If you have $1,000 in your savings account and earn 4% APY, you'll end up with $1,040. However, inflation hurts the value of the money that you keep in your bank account. Even if inflation is low, some of your favorite businesses may raise their prices at rates higher than the posted inflation amount. Your money isn't doing any good in the bank. Cardone mentioned that people put their money in the bank, and then the banks proceed to lend that money to individuals and businesses. Cardone asserts that it's not really your money when you put it in the bank since the financial institutions get to use your money for loans. Trending: $100k+ in investable assets? – no cost, no obligation. One of the most common mistakes people make is changing their living standards the moment they make more money. Regardless of whether you get a small raise or double your income, Cardone encourages people to maintain their living standards. By skipping the Lambos, Guccis, and other high-end items, you can plow more money into your investments. Real estate, stocks, and crypto are some of the places you can put your money to multiply your net worth. Aggressively investing your money and maintaining frugal living standards can eventually put you in a position where your investments grow faster than your ability to earn additional income. This part of Cardone's advice caters to making short-term sacrifices for long-term also mentions that a house is a bad investment and that you shouldn't rush to buy a house just because you're making extra money. This advice may not seem practical to people who value home equity and view rent as throwing money away. However, you have to lock up a lot of money in your home through the down payment and monthly mortgage payments. If you rent, you can move on a whim, and you don't have to make a big down payment. Some investors can generate higher returns by investing in stocks and real estate instead of putting the same money into a down payment. Homes make more sense if you have a family and are ready to settle into a neighborhood. Cardone owns some luxury homes, but he made those purchases after making many successful real estate investments. A house isn't an investment unless it's producing cash flow from tenants. Read Next: Here's what Americans think you need to be considered wealthy. Image: Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? APPLE (AAPL): Free Stock Analysis Report TESLA (TSLA): Free Stock Analysis Report This article Grant Cardone Outlines How To Get $10 Million And Reveals Key Mistakes: 'They Think They Should Buy A House' originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
08-07-2025
- Business
- Yahoo
Grant Cardone's Recent Move Could Mean Good News for Bitcoin: Is It Time To Invest?
Is it time to invest in bitcoin? If you are like most people, you might be on the fence about cryptocurrencies. Many financial entities were also on the fence until recently. Read Next: Explore More: As Cointelegraph reported, Grant Cardone's real estate firm, Cardone Capital, purchased 1,000 bitcoin, highlighting a shifting investment strategy at his company. Read on for more information about Cardone's latest move and what it means for bitcoin and your investment strategy. On June 21, Grant Cardone posted on X (formerly Twitter) that his firm became the 'first ever real estate/btc company integrated with full BTC strategy.' This comes after announcements in late April that Cardone Capital was planning to use the profit from its real estate venture to purchase 1,000 bitcoin. As Cointelegraph reported, Cardone Capital's purchase was worth a bit more than $101 million. And this purchase may not be the only one. CoinDesk reported that Cardone Capital is planning to add 3,000 bitcoin and 5,000 residential units by the end of the year. Check Out: As more traditional finance entities adopt cryptocurrency, more investors on the fence could enter the market. These large financial entities conduct thorough due diligence and market research before pursuing a new investment, meaning they have fully vetted bitcoin and believe in its ability to generate financial returns. However, the decision to invest is based on your personal financial goals. Bitcoin is still a relatively new type of asset, meaning there isn't 50 years of historical data. As a result, many investors supplement their portfolios with bitcoin. For example, they will purchase traditional investments, like mutual funds and exchange-traded funds (ETFs), and hold some funds in bitcoin. The diversification and allocation of your portfolio between bitcoin and traditional investments will depend on your risk tolerance. If you have a high risk tolerance, you might hold higher levels of bitcoin. On the contrary, if your risk tolerance is low, bitcoin should make up a smaller part of your portfolio. Like any investment, there is a possibility of losing your funds. However, Cardone Capital investing in bitcoin could be a positive sign. Properly balancing your portfolio, working with a financial expert and implementing consistent oversight are great ways to reduce risks. More From GOBankingRates These Cars May Seem Expensive, but They Rarely Need Repairs This article originally appeared on Grant Cardone's Recent Move Could Mean Good News for Bitcoin: Is It Time To Invest?
Malaysian Reserve
08-07-2025
- Business
- Malaysian Reserve
Grant Cardone and Tony Delgado Share Stage at CPAC Latino
HOLLYWOOD, Fla., July 7, 2025 /PRNewswire/ — Two of the most prominent voices in business and personal empowerment, Grant Cardone and Tony Delgado, delivered back-to-back keynote speeches at the CPAC x Latino Wall Street event held this past weekend at the Seminole Hard Rock Hotel in Hollywood, Florida. The joint appearance marked a significant moment for conservative politics, financial literacy, and Latino entrepreneurship. The event, a collaboration between the Conservative Political Action Conference (CPAC) and Delgado's Latino Wall Street movement, drew hundreds of attendees from across the country. Entrepreneurs, political leaders, and young professionals gathered to hear hard truths and actionable strategies from two of the most dynamic figures in their fields. Cardone, known worldwide for his 10X Rule and multi-billion-dollar real estate empire, focused his message on economic independence and aggressive goal-setting. 'If you want freedom, you need capital. And if you want capital, you need courage,' Cardone told the crowd. 'Stop thinking small. Nobody's coming to save you.' Delgado, a tech entrepreneur and advocate for wealth-building in underserved communities, spoke with equal intensity. 'We're no longer waiting for a seat at the table. We're building our own,' he said. 'Latinos are the backbone of the American economy, but we need to become owners, not just workers. This is our time.' The CPAC x Latino Wall Street collaboration signaled a larger movement: the merging of political influence and economic empowerment within the Latino community. Panels throughout the day addressed issues such as decentralized finance, real estate investing, immigration reform, and building generational wealth. Both Cardone and Delgado emphasized self-reliance, discipline, and urgency. They didn't hold back. 'We are done being silent,' Delgado added. 'We are done being passive. The new generation of leaders looks like us — and talks like us.' The event wrapped with a networking session and calls for continued collaboration between entrepreneurs and policy leaders. Organizers say this is just the beginning of a national movement. Check out their YouTube interview here: Grant Cardone at the First-Ever CPAC Latino | Latino Wall Street Media Contact:press@
