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I used to think this would be... maybe not quite fixed, but certainly improved, when the boomers died off and left their property to their kids and/or grandkids
by lastofthemojito 4y ago
I used to think this would be... maybe not quite fixed, but certainly improved, when the boomers died off and left their property to their kids and/or grandkids.
After watching my mom die I'm convinced that the boomers' money will mostly go to the billionaires who own senior living facilities, while a small slice will go to the underpaid immigrants who work there.
- scubakid 4y agoWhat do you think their margins look like on those things? Actually, I can't decide if I want to know..
- cykros 4y agoI'm curious if those are actually owned by billionaires...there aren't THAT many billionaires. To be honest, I'm more expecting that they're run as REITs that are on public markets, in large part held by the asset managers of the world in various funds strewn across 401k plans. But you're right, they are standing to see a lot of money coming in presently and over the next 10-20 years...guess I have my next bit of research for investing (this is a comment section on a site run by a venture capital firm, right?).
- lastofthemojito 4y agoNo idea in general, but it looks like the largest(?) one, Brookdale Senior Living, is majority owned by Fortress Investment Group, which was founded by 2 billionaires, Randal Nardone and Wesley Edens, so there's certainly at least some billionaires in that industry. https://en.wikipedia.org/wiki/Brookdale_Senior_Living https://en.wikipedia.org/wiki/Brookdale_Senior_Living https://en.wikipedia.org/wiki/Fortress_Investment_Group https://en.wikipedia.org/wiki/Fortress_Investment_Group https://www.forbes.com/profile/randal-nardone/ https://www.forbes.com/profile/randal-nardone/ https://www.forbes.com/profile/wesley-edens/ https://www.forbes.com/profile/wesley-edens/