How the rich are remaking Puerto Rico

Journalist Jeremy Loffredo travels to Puerto Rico to investigate how a new wave of U.S. crypto billionaires and wealthy transplants are reshaping the island. Drawn by tax breaks and lax regulations, these elites are buying up land, displacing locals, and transforming the entire Latin American country.

Through on-the-ground reporting Loffredo unpacks how this economic invasion is eroding the island’s sovereignty under the guise of “investment,” echoing earlier eras of U.S. dominance—most notably the island’s long history of American military presence.

Watch it on Substack