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. Forbes estimates Savage’s net worth at approximately $5.4 billion.
Savage began his real estate ventures with two North Palm Beach homes purchased from Swedish model Elin Nordegren, the former wife of golfer Tiger Woods, for $32.9 million in September 2020. He sold both properties just over a month later to billionaire Robert F. Smith for $48.2 million, achieving a 47 percent profit in about 35 days.
Continuing his investment strategy, Savage has recently signed contracts to acquire two mansions in Stone Creek Ranch, an exclusive gated community in Palm Beach County where actor Mark Wahlberg is also a resident. The combined price for these homes exceeds $40 million. In an interview with The Real Deal, Savage said he has not yet decided whether he will keep or sell the properties but noted that he has received offers well above his purchase price. “There is far more upside to go,” he said.
Savage described Florida as “the new Golden State,” highlighting its absence of state income tax and pro-business climate as reasons for continued property value growth: “Everything keeps going up in Florida.”
Among his recent acquisitions is an 11,500-square-foot estate on Hawk Shadow Lane listed for nearly $22 million with Douglas Elliman’s Senada Adžem and another mansion at Quiet Vista Circle purchased for $16.7 million from Talbot Sutter of Sutter & Nugent.
In August, Savage bought the waterfront property at 43 Star Island Drive on Miami Beach’s Star Island for $35.3 million. The eight-bedroom mansion previously belonged to Rosie O’Donnell and features extensive water frontage and multiple guest houses. Plans are underway to renovate and expand it into a 15,000-square-foot home with amenities such as a gym and spa; it may be listed for more than $100 million upon completion.
Another property under Savage’s ownership is located at North Bay Road in Miami Beach. Developer Keith Menin acquired the site for $16.1 million but Savage claims ownership and engaged Menin to oversee renovations before listing it with One Sotheby’s International Realty for $32.5 million.
Additionally, Savage has assembled land along Pine Tree Drive totaling nearly 3.5 acres through purchases from Leila and David Centner exceeding $35 million and acquiring another parcel via foreclosure earlier this year. Construction on what is expected to be a $100 million compound began in 2023 but was delayed due to legal disputes involving former project manager Andrea D’Alessio.
