Billionaires Have Growing Appetite for Real Estate As Market Slows

Source: Yahoo Finance — 

While the world’s wealthiest people earn their money in a variety of ways, many add to their fortunes through investing in real estate, which typically appreciates in value.

Tesla Inc. and SpaceX CEO Elon Musk, the world’s richest man, made his fortune starting and selling technology companies. He spent a decade buying six houses on two streets in Los Angeles and a house in Northern California, driving up the price of real estate in those neighborhoods.

Jeff Bezos started Amazon.com Inc. as a book-selling platform that grew into an e-commerce behemoth with a market capitalization of more than $1 trillion. Bezos now backs Arrived Homes, a real estate investment platform that acquires single-family homes to use as rental properties.