Floyd Mayweather is expanding his real estate portfolio to incorporate office properties across the country in addition to multi-unit apartment buildings he purchased in New York for $402 million.

The latest investment of the legendary boxer in the 601W company equalizes him the office owner’s extensive portfolio, which incorporates a $10 billion collection spanning 18 buildings and 10 million square feet, The Real Deal reports. The source said this is Mayweather’s “most significant” investment up to now.

With the investment in 601W, Mayweather becomes an owner-partner of significant properties akin to the Amazon-anchored 410 tenth Avenue in New York’s Hudson Yards district, the Aon Center and Old Post Office Building in Chicago, and the Harborside office complex in Jersey City, New Jersey.

Mayweather is confident the office market will get better post-pandemic and sees “tremendous growth” in the 601W portfolio, citing the owner’s strong track record, in keeping with a spokesman.

Mayweather’s investment will support the repositioning of existing assets and financing of recent acquisitions, said Mark Karasick, managing member of 601W. Mayweather is also targeting distressed office deals in big cities like Chicago and New York, Karasick added.

The entry into the office sector comes after Mayweather’s $100 million investment in a partnership with office owner SL Green and a month after he acquired a portfolio of apartments from Black Spruce Management in Upper Manhattan for $402 million. This transaction, which incorporates over 60 buildings for rent, will probably be one of the most important transactions in the town this yr.

“New York is the center of the world,” Mayweather said in a statement. “A wise person once told me that if you buy a property in New York and hold on to it for years, you will always make money and win.”

Mayweather’s Millions Made in the Ring solidified your status as an experienced investor. He has amassed a net value of $1.2 billion, including roughly $300 million from a single fight in 2015.

Under pressure from customers and investorsmany US corporations have committed to voluntarily reducing their impact on the climate. But this does not at all times mean they reduce their very own greenhouse gas emissions.

AND a large variety of corporations as a substitute, they pay others to reduce greenhouse gas emissions on their behalf through the projects they generate carbon offsets.

There are reasons to be skeptical of this practice. Chief amongst them is that projects designed to offset carbon emissions have long occupied land in poorer countries, displacing small farmers AND life-threatening in the method. The quality of some voluntary offsets traded all over the world has also proven difficult to confirm. This is recommended, for instance, by studies of forest relocation projects lots of them are usually not that effective in carbon sequestration, they claim.

We consider there’s a higher solution: Companies could spend a few of their carbon offsetting money on climate-friendly projects that not only reduce emissions, but additionally improve the lives of individuals within the U.S. communities where these corporations operate.

Our team On the Climate, Health and Energy Equity Lab at Vanderbilt University, he explored the potential of corporations contributing offset dollars to improve energy efficiency in low-income housing, starting with a pilot study in our hometown of Nashville. Efficiency improvements can save energy and money and reduce carbon emissions. At the identical time, they reduce among the many health risks created or increased by living in a home that’s difficult to properly heat and funky.

Such modernizations can be financed by sale of carbon offsets on “social coal segment. voluntary market for emission allowances. The combined economic, health and climate benefits of modernizing low-income energy sources could support such projects attractive for corporations wishing to meet their climate commitments and gain positive attention from the area people.

Energy efficiency pays off in some ways

In the US, low-income households spend on average 6% to 10% of your income on energy costs. Often, renters and homeowners struggle to maintain healthy temperatures in aging, poorly insulated homes.

For some people, the associated fee of heating their home can be so high that it becomes difficult alternative: “heat or eat”.”what can participate in a physical examination AND mental health toll.

In Nashville, we checked out implementing 4 key varieties of energy efficiency improvements in low-income housing. Together they can reduce energy consumption and energy-related carbon emissions while earning offset credits within the voluntary carbon market.

We calculated that a combination of replacing the windows, refrigerator, and heating and cooling system, and insulating the attic of a two-bedroom rental apartment in Nashville could reduce the carbon dioxide emissions from energy use in the house by an estimated amount 592 tons over 25 years of modernization operation.

If carbon emissions reductions from a Nashville home retrofit were packaged as carbon offsets and sold on a voluntary carbon market at a price of $30 to $45 per ton, the cash earned could cover the numerous material costs of energy efficiency retrofits. These prices are in step with the costs requested by other significant carbon offsets AND significant social advantages. It can also be quite possible that community health advantages would be more attractive to some corporate buyers than greenhouse gas reductions alone. Offset transactions may be facilitated by non-profit organizations, social enterprises or local governments.

Many of those improvements are too expensive for low-income households without outside financial assistance. Landlords tend to avoid them because tenants, not owners, pay utility bills.

Lessons from Maine and the Southeast

Projects are already mobilizing funds to offset carbon emissions for renewable energy and energy efficiency within the US

One of the early innovators was the Maine Housing Authority. Agency pilot financing for energy efficiency modernization of residential buildings with the sale of carbon offsetting allowances within the early 2000s and discovered how complicated this process can be.

Chevrolet’s purchase of $750,000 in carbon credits for a project in Maine in 2012 enabled it to increase efficiency to approximately 170 houses. The project revealed several essential findings, including the necessity for: a large variety of houses and a high carbon price for the project to repay. A 2012 review of this system found that while each home could generate a whole bunch of dollars in carbon credits, preparing the project, measuring and verifying the worth, and selling any such offset it can cost tens of hundreds of dollars before work on the homes begins.

To reduce these costs, our team member Maya Maciel-Seidman developed a way to quantify carbon reductions from upgrading home energy systems. It was able to reduce time and costs by counting on publicly available utility and government data combined with easy-to-perform ground measurements.

Another challenge of any such carbon offsetting – and offsets supporting clean energy production – you could come across issue of additionality: Would modernizing low-income energy systems still occur without carbon offset financing?

I do not think so. There are federal programs that provide funding to improve energy efficiency in low-income housing. However, over 40 years of federal weather assistance program experience and Energy assistance program for low-income households suggests that these programs don’t reach the overwhelming majority of eligible low-income households.

A solar startup within the southeastern United States provides one other example of carbon offsetting environmental AND additional economic advantages close to home. Clear loop generates carbon offsets by constructing utility-scale solar farms in the dirtiest parts of the US power gridregions with little renewable energy and highly polluting power plants. The company funds investments in photovoltaic energy through: selling carbon offsets prematurely representing the emissions saved over the lifetime of every solar farm.

Companies and residents profit

The use of carbon offsets isn’t a substitute for emissions reductions or for public policies and financing to eliminate fuel poverty and insecurity. However, we consider that mobilizing a voluntary carbon market to finance energy efficiency improvements in low-income homes could provide clear relief for a lot of households.

The physical proximity of corporations supporting such projects also needs to enable greater transparency and accountability. When corporations purchase carbon offsets which might be generated locally and supply additional advantages to host communities, they strengthen their social permit to operate while making progress on climate commitments.

Taco Bell CEO Sean Tresvant says the key to success is and Climbing the corporate ladder will not be about pretending be a specialist in all the pieces, .

Appearing on LinkedIn’s “This Is Working With Daniel Roth” podcast, the first Black CEO to lead a Mexican-inspired fast food chain revealed the best advice he received during his transition from chief brand officer to CEO in January 2024. “When I went from “As the CEO’s chief brand officer, I got some great advice: Don’t try to be a black belt at everything,” Tresvant said, calling it “the biggest surprise.” He continued to reveal that since receiving the gold nugget, the 43-year-old now claims that instead of trying to be an expert in everything, he has remained a “black belt in marketing and a brown belt in all the pieces else.”

While serving in leadership positions at Nike and , Tresvant learned that a successful manager’s strength truly comes when he admits he doesn’t know all the pieces. That’s something he says helped make the transition at Taco Bell go easily – learning what your strengths and weaknesses are after which simply reaching out to a team member with those skills. “I think that’s what helped me be successful early on, because I’m not trying to be everything,” the debuting CEO said.

“I understand I’m not the CFO, but I have a great CFO who can lead the company.”

this tactic is an indication of “great leadership.” Allows other people to try to develop their very own skill set, which could lead to them being granted other opportunities. “I’m not trying to be everything,” Tresvant said. “Leaders who try to be everything to everyone, and maybe try to be a little too micro and don’t give their teams the opportunity to lead – I think that’s when teams are not at their best. I try to be a good leader who understands what I’m good at, but also understands what other people are good at and make sure I give them the space to be great.”

Communications expert Matt Abrahams supported the CEO’s theory of fine leadership with advice on how to construct successful relationships in the workplace. The first step is to ask questions. “Asking powerful questions shows that you care, shows empathy, shows that you want to learn, and in some cases, admits that you don’t know everything,” Abrahams said.

“These are all valuable tools and resources to have as you try to advance your career or deepen your relationships.”

On “The Path” podcast, leadership wizard Charlene Li said that admitting you do not know something is a fantastic line to success. “You can open yourself up to the student’s way of thinking, and that’s absolutely key,” she said. Li also emphasized that combining humility with self-confidence can enable you get better from failure and get back up whenever you fall.