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When oceanfront estates in the heart of Palm Beach, Fla., began skyrocketing in value during the pandemic, Russ Weiner, creator of the Rockstar Energy drink, knew it was just a matter of time until high-end waterfront homes in nearby communities began experiencing similar growth.
So in September 2020, he bought two properties, spanning a total of roughly 3 acres, for roughly $32 million in the village of North Palm Beach. A few weeks later, he sold the properties for around $50 million to private-equity executive Robert F. Smith.
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This article was originally published by a www.wsj.com . Read the Original article here. .