Grant Cardone and Related’s Stephen Ross (Getty Illustration by Kevin Rebong for The True Deal)
Grant Cardone loves his Richard Mille look at collection. The crowdfunding multifamily trader sometimes flaunts his sparkly, ridiculously highly-priced wrist dress in to his legion of followers on TikTok, Instagram and other social media platforms.
Now, Cardone is blaming billionaire developer Stephen Ross and Method 1 for the alleged theft of a single of his luxurious timepieces.
On Oct. 10, Cardone sued Ross’ Hardrock Stadium, Formula One’s mum or dad Liberty Media, Naples-based mostly racing promoter Florida Motorsports and Cincinnati-dependent Whelan Party Services in Miami-Dade Circuit Court docket for $750,000 in damages.
Cardone alleges unknown robbers stole a Richard Mille observe value $750,000 while he was in a VIP location of the Miami Grand Prix, which took position in Might on the grounds of Hard Rock Stadium in Miami Gardens. He claims the robbers took edge of alleged lax security.
Cardone, Liberty Media and Method 1 spokespersons, and Hard Rock Stadium CEO and President Tom Garfinkel did not immediately reply to requests for comment.
Difficult Rock Stadium and South Florida Motorsports filed motions to dismiss the lawsuit, professing that Cardone agreed to solve the subject via arbitration that is already taking area.
Ross launched New York-centered Relevant Corporations, and owns the stadium and its NFL hometeam, the Miami Dolphins. Ross, Florida Motorsports and Formulation One particular partnered to place on the Miami Grand Prix. Over the earlier 12 months, Ross has expanded his firm’s existence in South Florida by acquiring and launching office environment projects in West Palm Beach, and partnering with Swire to build an office tower at Brickell Town Centre in Miami.
Ross also proposed redeveloping the historic Deauville resort web page in Miami Beach, but the city’s voters turned down his strategy past 7 days.
Above the earlier ten years, Cardone has emerged as just one of the nation’s most active buyers of multifamily tasks. His Aventura-primarily based organization Cardone Capital depends intensely on acquisition financial loans and crowdfunding from normal investors. With that, it has ordered about $5 billion worthy of of flats in 5 states, including Florida, in accordance to the company’s web site.
In May well, Cardone Funds done its most latest offer: The $100 million-in addition acquisition of a 346-unit apartment advanced on the Miami River.
Cardone’s social media accounts are populated with films of him doling out financial investment tips and actual estate marketplace analyses advertising and marketing his firms and his congregation, the Church of Scientology hobnobbing with celebrities and bragging about how shopping for condominium complexes has produced him rich.
In a 2020 TikTok selfie video, Cardone retains a martini glass with 3 of his Richard Mille watches and pretends to sip from it.
@grantcardone Richard stirred #richardmillie ♬ Likely Undesirable feat. Drake – Meek Mill
In an Instagram clip final yr, Cardone confirmed off 6 distinctive Richard Mille watches he was considering acquiring, with a headline that browse, “Should I expend $750,000 on this Richard Mille?”
In accordance to the lawsuit, Cardone statements he was in the VIP Paddock Club of the Miami Grand Prix as a guest of Cushman & Wakefield. A brokerage spokesperson did not immediately answer to a request for remark.
Cardone rubbed elbows with global soccer star David Beckham, NBA legend and Charlotte Hornets owner Michael Jordan, and tunes producer and The Goodtime Hotel co-proprietor Pharell Williams, the lawsuit states.
“Attendees, like Cardone, had been invited into the Paddock Club lounge and were being encouraged to carry significant cash and sport the most high-priced jewelry in the earth beneath the phony perception that protection would be sufficient to safeguard the basic safety and personal possessions of these kinds of attendees,” the lawsuit states. “Yet ample protection at the Paddock Club lounge was nonexistent.”
According to the accommodate, a staff of burglars who had obtain to VIP regions followed Cardone, his wife Elena, and a close friend as a result of the Paddock Club to the exit ramps, where they “orchestrated a enormous distraction” to steal Cardone’s watch.
