realestate

LA Investor's 'Any Price' Bid to Private Fire Departments Draws Criticism

User shocked by resident's offer to pay 'any amount' for protection.

A
real estate investor's plea for help during California's devastating wildfires sparked widespread criticism on social media. Keith Wasserman, co-founder of Gelt Venture Partners, took to X and asked for "access to private firefighters" to protect his home from the raging fires that have forced over 100,000 people to evacuate and scorched tens of thousands of acres.

    Wasserman's post was met with outrage, with many questioning why he would prioritize saving his own property over the lives of those affected by the disaster. "You're suggesting that potentially lifesaving resources should be diverted to save your house because you're rich while tens of thousands of people try to evacuate?" one user wrote.

    Wasserman's firm estimates its current portfolio value at $1.59 billion, and his request was seen as tone-deaf given his wealth. His post has since been deleted along with his account. Gelt Venture Partners has not commented on the matter.

    The use of private firefighters has been a topic of controversy in the past, particularly when Kim Kardashian and Kanye West used them to protect their $60 million mansion during a 2018 fire that burned nearly 97,000 acres of land. Insurance companies have also offered wealthy policyholders private firefighting services to protect their homes.

    This week's Pacific Palisades fire has become the most destructive in Los Angeles' history, according to The Associated Press.

LA investor makes high-stakes bid for private fire departments in Los Angeles.