Financial Data and Key Metrics Changes - Distributable earnings before realizations increased 13% year over year to $1,300,000,000, equating to $0.80 per share for the quarter and $5,300,000,000 or $3.36 per share for the last twelve months [5][15] - Total distributable earnings including realizations were $1,400,000,000 or $0.88 per share for the quarter and $5,900,000,000 or $3.71 per share over the last twelve months, with total net income of $2,900,000,000 [15] Business Line Data and Key Metrics Changes - The asset management business generated distributable earnings of $650,000,000 or $0.41 per share in the quarter, and $2,700,000,000 or $1.72 per share over the last twelve months [16] - Wealth Solutions business delivered distributable operating earnings of $391,000,000 or $0.25 per share in the quarter and $1,600,000,000 or $1.02 per share over the last twelve months [18] - Strong fundraising across flagship funds led to inflows of $22,000,000,000 during the quarter, including over $5,000,000,000 from retail and wealth solutions clients [17] Market Data and Key Metrics Changes - Global equities hit all-time highs, credit spreads tightened dramatically, and interest rates remained largely unchanged, with expectations of potential cuts in the near future [6] - The company completed GBP55 billion of asset sales this year, including GBP35 billion in the quarter, generating excellent returns [7][22] Company Strategy and Development Direction - The company is focusing on digitalization, deglobalization, and decarbonization as key themes for capital deployment [7] - A new AI infrastructure strategy is being launched, focusing on developing AI factories to meet the growing demand for compute capacity [9] - The company plans to enhance its capital structure to support low-risk, long-duration insurance operations, indicating a shift towards integrating insurance with investment strategies [10][11] Management's Comments on Operating Environment and Future Outlook - Management noted that the macro environment is becoming increasingly constructive, supporting increased monetizations and strong demand for high-quality assets [6][7] - The company anticipates continued growth in financial results over the remainder of the year, supported by strong underlying fundamentals [27] Other Important Information - The company announced an agreement to acquire Just Group for $3,200,000,000, which is expected to significantly accelerate growth in the insurance business [19] - A quarterly dividend of $0.09 per share was declared, and a three-for-two stock split of Class A limited voting shares was approved [27] Q&A Session Summary Question: Growth in P&C business and scaling plans - Management indicated that the focus is on low-risk liabilities, particularly in the annuity business, with potential for organic growth in P&C if competitive advantages are identified [29][30] Question: Market conditions and carried interest - Management noted that while market conditions are improving, the timing of carried interest realization remains broadly in line with previous expectations, with significant contributions expected next year [35][36] Question: Just Group acquisition financing - Management stated that details on the financing facility for the Just Group acquisition are limited due to UK takeover rules, but it is a public to private transaction [40] Question: AI infrastructure strategy and investor support - Management confirmed that they are engaging with large shareholders for potential cornerstone investments in the new AI infrastructure strategy [48] Question: Wealth Solutions business spread and cash distributions - Management clarified that the spread remains consistent with previous quarters, and the reduction in cash distributions is primarily due to one-time income from the residential land and housing business last year [56][57]

Core Insights - The significant price difference between Melbourne and Sydney's housing markets is primarily driven by land value, with Melbourne's median house price at AUD 1.06 million compared to Sydney's AUD 1.72 million, a difference of AUD 658,000 [1][3] - Melbourne's real estate market has experienced the lowest price growth among all capital cities over the past five years, making it more affordable compared to Sydney [3][6] Housing Affordability - With a budget of AUD 1.06 million, buyers can purchase homes in 89.7% of Melbourne's areas, while in Sydney, this budget only allows for homes in 27.3% of the areas [3][6] - In popular Sydney neighborhoods like Glebe, Newtown, and Bondi, it is nearly impossible to buy a standalone house with a budget of AUD 1.06 million, often requiring compromises such as purchasing an apartment instead [6][7][8] Property Types and Locations - For AUD 1.06 million in Sydney, buyers may only afford a two-bedroom apartment or a larger one-bedroom apartment in desirable areas [8][9] - To purchase a townhouse or terrace house in Sydney, buyers need a budget of over AUD 1.5 million [9] - In areas like Blacktown, AUD 1.06 million could buy a renovated three-bedroom house, but this budget may soon only suffice for properties needing significant renovations [11][12] Comparison of Purchasing Power - With a budget of AUD 1.72 million in Melbourne, buyers can find properties almost anywhere, including good options in central areas like Richmond and Hawthorn, with two to three bedrooms available [13] - In contrast, Sydney's median house prices within 5 kilometers of the city center range from AUD 1.7 million to AUD 4.2 million, significantly higher than Melbourne's [13][14] - Melbourne's real estate market offers greater diversity and better affordability compared to Sydney [14]

Core Viewpoint - Easing tariff concerns have led to a surge in growth stocks, with significant returns for investors who bought during the initial panic following tariff announcements [1][2]. Group 1: Robinhood Markets - Robinhood Markets has seen a remarkable increase of 152% since the tariff announcements, rebounding from a low of less than $40 per share [4][6]. - The company reported a 45% year-over-year revenue increase, totaling $989 million, with net income more than doubling to $386 million [5]. - The introduction of tokenization is highlighted as a major innovation, allowing investors to hold stock tokens via blockchain, enhancing market access without commissions [5][6]. Group 2: Rocket Lab Corporation - Rocket Lab's stock has risen by 145%, climbing from below $20 to nearly $45 [7]. - The company has successfully completed 68 launches of its Electron rocket, with potential growth opportunities tied to the upcoming debut of its larger Neutron rocket [7][8]. - Despite its growth, Rocket Lab incurred a net loss of over $190 million last year and burned through $49 million in operations, indicating a need for significant cash to expand [9][10]. Group 3: Opendoor Technologies - Opendoor Technologies has increased by 144%, with shares skyrocketing 300% in the past month, although it remains a high-risk investment [11][12]. - The company operates in a capital-intensive home-flipping business, which requires substantial cash infusions and is dependent on a strong housing market [11][13]. - Last year, Opendoor reported a net loss of $392 million on sales of $5.2 billion, raising concerns about its path to profitability amid economic uncertainty [13].

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Over three decades, Lynn Jerath spearheaded more than $10 billion in real estate deals during stints at Goldman Sachs and The Carlyle Group. (Photo: Courtesy of Lynn Jerath) #ForbesOver50 Investment: https://t.co/cTJSshkSTw https://t.co/47z2T7rAha ...

Over three decades, Lynn Jerath spearheaded more than $10 billion in real estate deals during stints at Goldman Sachs and The Carlyle Group. (Photo: Courtesy of Lynn Jerath) #ForbesOver50 Investment: https://t.co/EpfLJcaIoy https://t.co/AVIeEMtWff ...

Investment & Acquisition - Singapore's largest real estate investment trust is acquiring the remaining portion of a prime office tower [1] - The acquisition cost is $815 million [1] Property Details - The office tower houses companies like JPMorgan [1]

RT Murano (NASDAQ: MRNO) (@MURANOMRNO)Murano proudly welcomes @Eric_BIGfund to our Board and as Chair of our Bitcoin Strategy Committee.As one of the first public digital real estate firms, we’re building on #Bitcoin to redefine how real estate is owned, financed, and transacted.https://t.co/bStAsalMDZ ...

Postal Realty Trust is a unique real estate empire grounded on a simple proposition: The US Postal Service will always deliver. But the mail carrier has never been under more pressure https://t.co/ybeSpQ5ngJ ...

(Net loss and Adjusted EBITDA figures in commentary below are attributable to Icahn Enterprises, unless otherwise specified) SUNNY ISLES BEACH, Fla., Aug. 4, 2025 /PRNewswire/ -- Financial Summary For the three months ended June 30, 2025, revenues were $2.4 billion and net loss was $165 million, or a loss of $0.30 per depositary unit. For the three months ended June 30, 2024, revenues were $2.2 billion and net loss was $331 million, or a loss of $0.72 per depositary unit. Adjusted EBITDA loss was $43 millio ...