If I had two billion dollars, the last place I would spend it on would be LA.
No kidding.
Cash payout was around one billion. After taxes, probably closer to 630 million. Paying 25-50 million per mansion can burn through that rather quickly.
A nice spread in Oregon or Washington would have been my choice. For me, that’s the best year-round climate in the US. However, I’d be far enough away from the cities to put them on ignore.
California is great if you're rich and can isolate yourself from California's many dysfunctions.
Believe it or not, there's plenty of awesome neighborhoods with great public schools, shopping, and healthcare in SoCal, priced well out of reach from the riff-raff and poors. These neighborhoods enforce vagrancy laws as well.
If I won this cash, I'd have no problem buying a multimillion dollar home on Coronado Island, for example. A place, believe it or not, where Trump signs outnumber homeless bums.
Same here. One is just asking for trouble when purchasing real estate or establishing a business in Los angeles.