They have also created over 15,000 direct jobs paying nearly twice the average household income, according to a study commissioned by the Department of Economic Development and Commerce (DDEC). Owned by content creator Kevin Thobias, Paul is paying an estimated $55,000 per month for the fully furnished home, according to the listing. Inside the $13 million Puerto Rico mansion where Logan Paul trained for his boxing match with Floyd Mayweather on Sunday, June 6, in Miami Gardens, Florida. Paul listed the mansion for sale in November 2021. we can get thru this together. The 9000 sq feet property boasts of seven heavily decked bedrooms and seven fully functional bathrooms. Logan Paul confirmed that he bought a new mansion in Puerto Rico. As a Senator, he can help change the way the federal government treats the U.S. citizens living in Puerto Rico by making Puerto Rico a state. But, he adds, local tax treatment of residents and businesses will remain in the hands of state governments, like New York and potentially Puerto Rico.. The Paul brothers recently rented a $10 million waterfront mansion in Puerto Rico. That could put Pierluisi and his ambitions for statehood in a tight spot. In Puerto Rico youre motivated to do more and make more money because of the implications that come with it.. The government says Puerto Rico needs the money. The second law, Act 22, offers full exemption from all local taxes on passive income to individuals. But he was also skeptical about how well the tax laws were working. I feel like its the closing of a chapter and the opening of a new one.. Your login session has expired. We reached out to them for comment so far, no word back. Crypto billionaire Brock Pierce bought an $18 million hotel. WebLogan Paul New Puerto Rico $10 Million Dollar Mansion | House Tour - YouTube 0:00 / 9:45 Intro #FamousEntertainment #LoganPaul #HouseTour Logan Paul New Puerto Please logout and login again. Pauls old mansion was located in the high-end Encino neighborhood in the San Fernando Valley of Los Angeles. Paul, who is preparing for a high-profile boxing match with Floyd Mayweather later this year, said the move would be an opportunity to get locked in [and] focused on training. Besides shimmering ocean views, the investors are also chasing a powerful lure: tax breaks. Pedro R. Pierluisi has cheered the many investors buying up luxury homes. Crypto billionaire Brock Pierce bought an $18 million hotel. (law which allows people to move to Puerto Rico and avoid paying taxes on transactions such as stocks or real estate.) The grassroots activist collective #AbolishAct60, whose name refers to the tax break laws, has started to ask for gringos to go home, and for Governor Pedro Perluisi to end the incentives. A barbecue truck that opened in August accepts Bitcoin and other cyber currencies for its mainland-style chicken. 'The Maverick' shifted to the Caribbean island last year and lived in a huge bungalow. #AbolishAct60 advocates describe all of these changes as predatory gentrification. All rights reserved 2023 The Real Deal is a registered Trademark of Korangy Publishing Inc. Greystone sells Lantana apartments to real estate mogul for $10M, Hialeah Gardens industrial site trades at $1M/acre, as market softens, Billionaire John Paulson wants to sell two Puerto Rico hotels as market rebounds, FEMA aid slow to reach Puerto Rico, Virgin Islands, Lendlease halts work on 47-story residential tower in SF, Ranking NYCs most expensive neighborhoods, Scooter Braun buys former Broad Art Foundation gallery. Theres this fear that people from the state side are going to come down and take over everything., Knowing Puerto Ricos history, she says, that fear is justified. Culture Jake Paul Logan paul Puerto Rico Turtles. TheYouTube star got into the ring with retired national champion boxer Floyd Mayweather, in what some called a $100 million publicity fight. The mansion also has an impressive wine cellar to cater to his expensive taste. There, too, theyve had some success. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Thanks for contacting us. Billionaire Brock Pierce moved to Puerto Rico and now helps run the charity Toys for Tots. And in some cases, it seems to be working. We are essentially importing a ruling class.. Logan Paul called out Canelo Alvarez following his recent loss to Dmitry Bivol. Really. 2023 NYP Holdings, Inc. All Rights Reserved, LA artist nearly loses hand after impaling it on her own paintbrush, Miss Puerto Rico and Miss Argentina star in sexy Fenty ad after wedding, 3 US tourists stabbed in Puerto Rico after being warned to stop filming hamburger cart: cops, I breastfed my husband on a romantic vacation its not what you think, Give Me a Break: How I Exposed Hucksters, Cheats, and Scam Artists and Became the Scourge of the Liberal Media. "Million Dollar Listing Los Angeles" stars Josh and Matt Altman of Douglas Elliman are the listing agents. Jake Paul is already in trouble with authorities in his new home of Puerto Rico after purchasing a $10 million house with brother Logan Paul on Dorado Beach earlier this year. Don't be fooled: Putin chose to punish Brittney Griner to JK Rowling showing outstanding moral courage as she stands up to vile woke mob, Thieves are swiping left and right to steal all around NYC, Black Democrat DA tells the truth on crime, but progressives won't listen, Ousted Chicago mayor blames loss on racism, gender but not her tepid response to crime, Hoda Kotb's lengthy 'Today' show absence finally explained, 11-year-old reads aloud from 'pornographic' book he checked out from library at school board meeting, Hoda Kotb's lengthy 'Today' show absence caused by 'family health matter'. Take Rincn, a touristy surf town with spectacular sunsets on the islands westernmost tip. Logan Paul is currently living in a $13 million Puerto Rico mansion, The Post can reveal. The YouTube star got into the ring with retired national champion boxer Floyd Mayweather, in what some called a $100 million publicity fight . Total value of all prizes is $272,800 USD. Is he moving to Puerto Rico with his brother into his brand new mega-mansion? Puerto Rico has seen an influx of tourists from the mainland as COVID-19 has kept many other destinations closed. * * * LIMIT OF TENTHOUSAND (10,000) ENTRIES PER PERSON/EMAIL ADDRESS REGARDLESS OF THE METHOD USED TO ENTER. As real estate prices dropped, investors moved in, and have driven up prices again in certain areas. Be the first one to comment on this story. People just dont really talk about it much, says DaSilva. Logan Paul also said that the place gave him a lot of "senior year vibes," welcoming the end of a chapter and the beginning of a new one. This story has been shared 101,455 times. Well check out what will become of his long-time Encino home, and the new Puerto Rico estate hes allegedly moving to. I want to make sure that its clear to the average Puerto Ricanto the degree that we canthat were here not just to be recipients, but were here to be contributors, says Robb Rill, the founder of a private equity firm who moved to the island in early 2013 as one of the laws first grantees. We've received your submission. Its true in politics. More than 142,000 locals fled the island in the first year after the storm, according to census bureau data. The Spaniards came and decided its going to be their island and decimated all the native people. New arrivals, many of them finance and tech investors who have applied for tax breaks, have rushed in, driving up rents and home prices, according to the Times. The Night Shift host, who is currently staying in Los Angeles, was so stunned by the mansion that he told Paul he was considering shifting to Puerto Rico. Skill testing question required for Canada residents. Manufacturers of the prizes offered in this Promotion do not sponsor or endorse this Promotion and are not affiliated with the Sponsor in any way. Numbers for 2020 arent yet available, but the DDEC projected the tax breaks would continue to grow in popularity through 2029. The YouTube star made the move to Puerto Rico in 2021 and has been attempting to sell his million-dollar home in Encino, Calif. Paul's seven-bedroom mansion His brother, Jake Paul also sold his grand Team 10 mansion in Calabasas recently at a major loss and says he will also be moving from LA. Recently the news has been uncovered about where the YouTuber will be living in the town of Dorado, which is 30 minutes from San Juan and a preferred area for wealthy individuals. As tourism on the island continues to surge, Democrats in Congress have introduced legislation to begin the debate on determining Puerto Rico's relationship with the mainland and the possibility of statehood. YouTuber-turned-boxer Logan Paul announced in February 2021 that he would be shifting to Puerto Rico from his home in California. YouTube phenom Logan Paul moved into a $13 million mansion. JohnStosselis creator ofStosselTV and author of Give Me a Break: How I Exposed Hucksters, Cheats, and Scam Artists and Became the Scourge of the Liberal Media.. He decided to try something different. The pushback from residents includes recent demonstrations against the tax breaks, which favor outsiders over locals. And no Paul Crib will be complete without a tribute to his inner wine connoisseur. YouTube Star Logan Paul Deserts California for Puerto Rico Pandemic set off a Golden State exodus in tech and finance Paul said he also considered tax-free Cardona Roig is concerned that Act 60 recipients will start buying land that is supposed to be protected under the plan, like in Camuy. Tens of thousands have applied for the exemption, and applications tripled last year. As economic opportunities have dwindled, millions of Puerto Ricans like Torres-Lpez have been forced to leave to the mainland. Many who move here live at the luxe Dorado Beach complex, part of the Ritz Carlton and full of million-dollar villas, and its said Logan has settled on a $10 million dollar mansion. Theres only positive.. Since then, shes started Dispora en Resistencia, a nonprofit that encourages Puerto Ricans overseas to get politically engaged. Moreover, the mansion has a super fancy game room for Pauls horde of friends. Move to Puerto Rico. Then almost everyone wins. He also revealed that he was looking for a change in his living situation and even tried looking for new houses in L.A. Download Bizcochito Report Free: De Asesor a Cabildero song and listen Bizcochito Report Free: De Asesor a Cabildero MP3 song offline. Until then, Act 60 remains part of the ongoing effort to attract population and new investment. Hes been criticized widely on social media for personally gaining from the laws; his daughter-in-law, a real estate agent, is currently listed as an admin to the Act 20/22 PR Real Estate Guide Facebook group, which shares the latest real estate news and trends for its tax exempt members. Logan has put plenty of work into the home, but will still likely make a profit considering he bought in 2017 for $6.6 million. 'I thought it was [going to be] more third world'' Paul said of Puerto Rico on a recent podcast. Pierluisi denies that he and his family have benefited from the tax breaks. Less than 72 hours later, it went viral. * * *NO PURCHASE OR DONATION IS NECESSARY TO ENTER OR WIN. I did it for the obvious benefit of being able to keep most please enter responsibly. Driven by tax incentives created to draw investment in the wake of Hurricane Maria in 2017, the influx of affluent new settlers has displaced residents who can no longer afford to live in their hometowns. Use of this site constitutes acceptance of our, Digital The WBA Light Heavyweight champion dominated Canelo for twelve rounds and secured a unanimous decision victory. Residents and Puerto Ricans in the diaspora alike say it encourages modern-day colonization, and are upset that most native Puerto Ricans arent eligible for the exemptions. Apparently island The current government is in favor of pushing for statehood in Washington, where it would have to be approved, as a way to ensure federal investment in the local economy. The 2021 Lamborghini HuracanEvo Spyder Sweepstakes is open only to legal residents of the 50 United States and the District of Columbia andCanada (excluding Quebec)who have reached the age of majority in the jurisdiction in which they reside. ALL RIGHTS RESERVED, Download the TMZ App on the Apple App Store, Download the TMZ App on the Google Play Store. 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