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The influx of wealthy New Yorkers and Californians who relocated en masse to Florida have driven up the price of golf club memberships with some Miami area locations charging six- and seven-figure fees.

Luxury golf clubs in South Florida have in some cases doubled and tripled their membership rates since the pandemic, according to Financial Times.

A hedge fund investor who plays golf in the area told the publication that there is fierce competition in what has evolved to be an “access to luxury golf arms race.”

Of the more than 545,000 people who left New York State in 2022, more than 91,000 relocated to Florida that same year, many of them looking to escape high taxes and draconian COVID-era lockdowns, according to data.

Many of them have cash to burn.

The types of people moving down there are used to getting their way and having access to the best of the best,” the hedge fund investor said.

“Then you tell them Congratulations, you moved to Palm Beach, you cant be a member of any of the old-school clubs because the wait-list is 10 years long.”

The price surge is coinciding with a rising demand for membership, which has created a backlog that has kept A-list celebrities waiting.

DJ Khaled has reportedly been trying to gain membership at the exclusive La Gorce Country Club in Miami Beach, which charges $700,000 to join — up from $200,000 in the pre-COVID days.

Thus far, however, the record producer and disc jockey, who already has membership at Shell Bay, the north Miami Beach country club that charges $1.35 million for access, has been unable to get in, the FT reported.

The report cited data which found that the cost of membership at golf clubs in Southeast Florida has risen at more than quadruple the national rate.

The median cost of joining one of these clubs went from $120,000 in 2019 to $200,000 in 2023, according to data from Club Benchmarking, a Boston-based analytics firm.

“Country clubs are experiencing the collective rise of South Florida like many businesses. It’s simple supply and demand dynamics at play and these institutions are wise to capitalize,” Filippo Incorvaia, the founder of Miami-based FI Real Estate, told The Post.

“New Yorkers will pay to get in because it means exposure to the right people and it’s a true competition.”

Incorvaia said that a similar dynamic is playing out “at marinas, private membership clubs and even select restaurants too.”

According to FT, New York City-based real estate developer Witkoff, which also owns Shell Bay, plans to build Dutchman’s Pipe, the first newly constructed golf club in the Palm Beach area in the last 25 years.

Dutchman’s Pipe, which is slated to open on the site of the old Banyan Cay club later this year, is reportedly set to charge membership fees ranging from $300,000 to $350,000, the FT reported.

Indian Creek — the private golf club located on the Miami island that has been dubbed “Billionaire Bunker” thanks to its well-heeled residents such as Jeff Bezos, Ivanka Trump and Jared Kushner, Ken Griffin, Tom Brady, and Carl Icahn — reportedly charges $500,000 for new members.

Before the pandemic, Indian Creek’s membership fee was less than half that amount, according to FT.

The club is considering hiking membership fees even further, it was reported.

The Breakers, an elite golf club in Palm Beach, charges new members a fee of $550,000. Before COVID, the fee was closer to $300,000, the FT reported.

Emerald Dunes in West Palm Beach, which has a reported waiting list of 100 would-be members, charges a fee of $700,000 — more than double the approximate $300,000 price tag from pre-pandemic days.

The old clubs are impossible to get into,” a financier who plays at several clubs is quoted as telling FT.

“Its crazy the initiation fees that people are paying to just have a place to go to dinner or play golf.

Dutchman’s Pipe, Indian Creek and Shell Bay are all invite-only clubs where membership can be obtained only through knowing someone who is already a member.

Paul N. Leone, the CEO of The Breakers Palm Beach, told The Post, “A direct comparison cannot be made between pre- and post-pandemic fees, as the fee structures for membership changed.

The club does not publicly disclose details on membership fees and pricing, he added.

The Post also sought comment from DJ Khaled, Shell Bay, Witkoff, Indian Creek, La Gorce and Emerald Dunes.

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Musk says Tesla is expanding Austin robotaxi service, adding Grok to cars

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Musk says Tesla is expanding Austin robotaxi service, adding Grok to cars

Tesla CEO Elon Musk attends an opening ceremony for Tesla China-made Model Y program in Shanghai, China, on Jan. 7, 2020.

Aly Song | Reuters

Tesla CEO Elon Musk said the company is expanding its robotaxi service area and bringing xAI’s Grok to vehicles as it rolled out a new iteration of the artificial intelligence chatbot.

Shares gained about 3%.

Musk said on X that Grok, his AI chatbot that praised Adolf Hitler and posted a barrage of antisemitic comments recently, will be available in Tesla vehicles “next week at the latest.”

xAI officially launched the Grok 4 update overnight as the company continued to face backlash for the vitriol written by the chatbot.

In response to a user post on his social media platform X, Musk said the company is expanding its Austin, Texas robotaxi service area this weekend. He also said Tesla is awaiting regulatory approval for a launch in the Bay Area “probably in a month or two.”

Read more CNBC tech news

The expansion of robotaxi and Grok integration comes at a fraught time for Musk and his empire.

Tesla set its annual shareholder meeting for Nov. 6, a Thursday filing showed. A group of investors recently called on the electric vehicle company to schedule the meeting.

Its last shareholder meeting was in June 2024, as Musk established himself as a major backer of President Donald Trump‘s reelection campaign. Musk later led the Trump administration’s Department of Government Efficiency, known as DOGE.

After stepping down from DOGE at the end of May, Musk has openly feuded with Trump on social media over the major tax bill, with the president suggesting the government look at cutting contracts for Musk’s companies.

Shares have tanked from their post-election high over investor concerns that the public fight could hamper Tesla. Slowing sales and rising competition also stifled some investor appetite.

Tesla shares fell Monday, with the company losing $68 billion in value after Musk continued to blast Trump’s “Big Beautiful Bill” and said he was establishing his own political party, the “America Party.”

The world’s richest man suffered another blow Wednesday when Linda Yaccarino stepped down as CEO of his social media platform X, leaving the role after a turbulent two years for the company.

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Environment

The Hyundai IONIQ 6 N is here and it’s even better than expected

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The Hyundai IONIQ 6 N is here and it's even better than expected

The Hyundai IONIQ 6 N is finally here, and it delivers. Hyundai’s electric sports car is loaded with fun new features, a sleek design (including a massive rear wing), 641 horsepower, and much more.

Meet the Hyundai IONIQ 6 N

After teasing the new model for the first time last month, Hyundai created quite a buzz. Now, we are finally getting our first look at the upgraded high-performance EV.

Hyundai unveiled the new IONIQ 6 N at the famed Goodwood Festival of Speed on Thursday in West Sussex, England. The upgraded model follows Hyundai’s first high-performance EV, the IONIQ 5 N.

At the event, the company boasted that its new electric sports car marks “a pivotal milestone in Hyundai N’s electrification journey,” adding “Hyundai N is once again redefining the boundaries of high-performance electrification with the debut of the IONIQ 6 N.”

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The IONIQ 6 N delivers an impressive 641 horsepower (478 kW) and 77 Nm of torque, enabling a 0 to 100 km/h (0 to 62 mph) sprint in just 3.2 seconds. Its top speed is about 160 mph (257 km/h).

Hyundai-IONIQ-6-N-EV
Hyundai IONIQ 6 N (Source: Hyundai)

That’s when using Hyundai’s Launch Control, one of the many performance features the new EV offers. Like its other N models, the IONIQ 6 is based on three pillars: Corner Rascal, Racetrack Capability, and, of course, an Everyday Sportscar.

Powered by two electric motors, a 223 hp (166 kW) at the front and another 378 hp (282 kW) motor at the rear, for a combined 600 hp (448 kW).

Hyundai-IONIQ-6-N-EV
Hyundai IONIQ 6 N (Source: Hyundai)

Redefining the EV driving experience

The upgraded IONIQ 6 “redefines the EV driving experience,” according to Hyundai, thanks to its advanced in-house vehicle control software.

Central to this is Hyundai’s N Active Sound + system, which mimics the feel and sound of a traditional engine. An added N e-Shift simulates shifting gears.

Hyundai-IONIQ-6-N-EV
Hyundai IONIQ 6 N interior (Source: Hyundai)

And that’s just the start. Other performance features, such as N Drift Optimizer, N Grin Boost, and N Torque Distribution, give you even more control over the vehicle while delivering increased power.

The IONIQ 6 N is powered by an 84 kWh battery, providing a WLTP range of up to 291 miles (469 km). However, EPA figures will be revealed closer to launch. Given the IONIQ 5 N has an EPA-estimated range of up to 221 miles, you can expect it to be slightly higher when it arrives.

With a 350 kW DC fast charger, Hyundai’s new performance EV can recharge from 10% to 80% in about 18 minutes.

With a length of 4,935 mm, a width of 1,940 mm, and a height of 1,495 mm, the IONIQ 6 N is about the size of the Porsche Taycan.

Hyundai will showcase the new high-performance EV during the hillclimb event alongside other models like the IONIQ 5 N, IONIQ 6 N Drift Spec, and IONIQ 6 N with N Performance parts. Hyundai promises each vehicle brings unique capabilities to the event, “guaranteeing a dynamic and thrilling on-track experience for all attendees.” Check back soon for more info.

What do you think of Hyundai’s new electric sports car? Would you buy one over the Porsche Taycan? Let us know in the comments.

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Environment

Elon Musk says Grok is coming to Tesla vehicles just after it went full Hitler

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Elon Musk says Grok is coming to Tesla vehicles just after it went full Hitler

Elon Musk said that Tesla owners will “soon” have access to Grok, a large language developed by Musk’s xAI startup, days after the AI started calling itself ‘MechaHitler’.

Yesterday, xAI launched Grok 4, the latest version of its large language model.

The new model is benchmarking very well, but that’s generally the case with the latest model to come out. It edges the latest models from Google and OpenAI on intelligence by a few points, but it falls behind on speed:

At the launch event, Musk announced that Grok will “soon” be integrated into Tesla vehicles.

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This is something that the CEO has been discussing since founding xAI, which has been controversial because Musk has also positioned Tesla to compete in the AI space. He even stepped down from his role at OpenAI due to a “conflict of interest with Tesla.”

The announcement of the imminent integration of Grok into Tesla vehicles comes just days after the language model went haywire on X and started praising Hitler, referring to itself as ‘MechaHitler’, and made several antisemitic comments.

xAI acknowledge the issue and put Grok on timeout while they fixed it:

We are aware of recent posts made by Grok and are actively working to remove the inappropriate posts. Since being made aware of the content, xAI has taken action to ban hate speech before Grok posts on X. xAI is training only truth-seeking and thanks to the millions of users on X, we are able to quickly identify and update the model where training could be improved.

The “bug” came just a few weeks after Musk stated that he was displeased with Grok supporting left-wing narratives, even though it didn’t say anything inncurate, and that he would update Grok to “fix” it.

Now, the large language model (LLM) is expected to power the new voice assistant inside Tesla vehicles.

LLMs are becoming quite common in cars, especially premium vehicles. Ford, Mercedes-Benz, Stellantis, and a few others have all integrated Chat-GPT in some models.

Many Chinese automakers have also developed their own and deployed them in cars, even entry-level ones.

Tesla is playing catch up on that front.

Electrek’s Take

As I have previously stated, I think Musk is setting up Tesla to invest or even merge with xAI at a ridiculous valuation – making Tesla shareholders virtually pay twice for Twitter, which is now part of xAI.

This is how he will be able to gain wider control over the company’s share.

Of course, it will be widely challenged in court. In fact, shareholders have already filed a lawsuit alleging that Musk was in breach of fiduciary duties to Tesla shareholders when he started xAI.

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