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Despite a Broader Slowdown, the Luxury Market Notched at Least Seven $100 Million Deals in 2022

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Rising interest rates and recession jitters didn't stop the country's richest buyers from logging big-ticket deals in 2022

The ultraluxury market remains ‘separated from reality’ as deep-pocketed buyers like Larry Ellison and Ken Griffin splashed out for properties in California, Florida and New York

Among the year’s biggest deals, billionaire media mogul Byron Allen paid $100 million for a Malibu estate.The luxury real-estate market may have returned to earth slightly in 2022 following a whirlwind pandemic-induced free-for-all in 2021. Still, some of the country’s richest buyers managed to log big-ticket deals.down from the eight closed the prior year,

according to data from appraisal firm Miller Samuel and The Wall Street Journal’s reporting. In total, there were 44 sales across the U.S. closed for $50 million or more. While that’s down from 48 in 2021, it’s still the second highest total on record and a significant uptick from the 23 recorded ina WSJ membership

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Because their lives aren’t effected by the economic environment. Never have been.

Good for them and get wrecked, you poors.

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