Edens’ vision: tax-exempt bonds to create high-speed train lines linking Orlando to Miami and Las Vegas to Southern California. Sunshine Station West Palm Beach is the current terminus for Wes Edens’ Brightline service to Miami. The $5 billion desert train also snagged private-activity financing from the federal government worth $1 billion and is awaiting a bond allocation from Nevada. After owning Flagler’s railroad for a dozen years, the return for Edens and Fortress investors remains uncertain. Last year it carried just over 1 million riders, with $22 million in revenue and a $66 million operating loss.

Source: Forbes June 11, 2020 10:30 UTC