Newly minted millionaires raid LA real estate market after stock sale bonanza — as desired neighborhoods revealed

New-money millionaires — particularly those buoyed by their involvement in Elon Musk’s rising commercial success of SpaceX — are opening their newly filled purses for the LA real estate market, putting already highly desired neighborhoods under an even brighter spotlight. SpaceX’s recent historic initial public offering (IPO) debuted June 12 at $135 a share, briefly topped $200, created nearly 4,400 new millionaires, made Elon Musk the world’s first trillionaire, and raised almost $86 billion. Now, those fresh LA millionaires are eyeing homes in the South Bay’s affluent beach cities — Manhattan Beach, Hermosa Beach and Redondo Beach — according to The Ankler. The neighborhood of Hawthorne. where many SpaceX employees still work, is being eyed by freshly minted millionaires. Tierney – stock