After selling Rockstar Energy to PepsiCo in a deal valued at over $4 billion, Russell Weiner, who now goes by Russell Savage, has shifted his focus to luxury real estate in South Florida. According to Forbes, Savage’s net worth is estimated at around $5.4 billion.
Savage began his real estate ventures with the purchase of two North Palm Beach homes from Swedish model Elin Nordegren in September 2020 for $32.9 million. He sold both properties just a month later to billionaire Robert F. Smith for $48.2 million, marking a 47 percent profit in about five weeks.
Continuing his investments, Savage recently signed contracts to buy two mansions in Stone Creek Ranch, an upscale gated community in Palm Beach County where actor Mark Wahlberg also owns property. The combined price for these homes exceeds $40 million. Speaking with The Real Deal last week, Savage said he has not yet decided whether he will keep or sell the properties but noted that he has received offers above his purchase price and believes there is “far more upside to go.” He described Florida as “the new Golden State,” citing factors such as no state income tax and pro-business policies.
“Everything keeps going up in Florida,” Savage said.
His current acquisitions include an 11,500-square-foot estate on 2.5 acres at 9303 Hawk Shadow Lane listed for nearly $22 million with Douglas Elliman’s Senada Adžem and another mansion at 16071 Quiet Vista Circle purchased for $16.7 million from Talbot Sutter of Sutter & Nugent.
In August, Savage acquired a property at 43 Star Island Drive on Miami Beach’s Star Island for $35.3 million. The mansion was previously owned by Rosie O’Donnell and features water frontage and multiple guest houses. Plans are underway to renovate and expand it into a larger estate expected to be listed for over $100 million upon completion.
Savage also owns a waterfront home at 5300 North Bay Road that developer Keith Menin renovated; it is currently listed for sale at $32.5 million through One Sotheby’s International Realty agents Marko Gojanovic and Reid Heidenry.
Additionally, Savage has assembled land on Pine Tree Drive in Miami Beach for a compound totaling nearly 3.5 acres purchased from Leila and David Centner for more than $35 million in 2021; he later foreclosed on an adjacent property earlier this year. Construction of the planned $100 million estate began in 2023 but was delayed due to litigation involving former project manager Andrea D’Alessio.
