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Insurancein Financial Markets
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AXA faces market challenges as shares drop due to currency volatility, but shows resilience with 7% revenue growth and a strategic €1B Italian acquisition, signaling expansion despite headwinds.

Palm Beach Billionaires Battle for Oceanfront Land

The New York TimesWednesday, July 30, 2025 at 9:00:45 AM
NegativeFinancial MarketsWealth inequality
In Palm Beach, ultra-wealthy buyers are locked in fierce competition over prime oceanfront property—but instead of renovating existing mansions, they’re bulldozing them to build even grander estates. It’s a cycle of demolition and one-upmanship that’s reshaping the coastline.
Editor’s Note: This isn’t just about luxury real estate—it’s a stark example of how extreme wealth can fuel waste and excess. While housing shortages plague much of the country, the superrich are treating multimillion-dollar homes as disposable stepping stones. The story taps into broader frustrations about resource hoarding and the growing divide between the haves and have-nots.
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