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ouglas Elliman's new chairman and CEO, Michael Liebowitz, has made a significant investment in the company by acquiring 1.1 million shares from former chairman and CEO Howard Lorber. The purchase was made through MSL 18 Holdings LLC for $1.68 per share, totaling around $1.8 million. This acquisition brings Liebowitz's total ownership to approximately 1.5 million shares directly and 97,000 shares personally, valued at nearly $3.6 million based on the current stock price.

    Liebowitz expressed his confidence in the company's future, stating that he is "very bullish" on Douglas Elliman. His investment comes after a period of decline for the company's stock price, which dropped to as low as $1 per share in September. Liebowitz was among the leaders who bought shares during this time, increasing his ownership from roughly 500,000 shares to over 1.5 million.

    The acquisition follows Lorber's sudden exit from the company in October, after an internal investigation into the company's work culture led to allegations of a "sexually charged" environment. Liebowitz was named as Lorber's replacement and has since stated that the company is heading in a new direction under his leadership.