A Changing Economic Story

A Changing Economic Story

Sep 9, 2026 | Culture and Influence

ISSUE 03 | September 2026

A CHANGING ECONOMIC STORY

Message from Richard Sandoval

Culture shapes what we value, how we live, and where we go next. In this edition of Culture & Influence, we explore that connection through stories of economic influence, personal adaptation, and distinctive experiences.

The Renaissance of the U.S. Hispanic Consumer opens a conversation about a market whose influence continues to evolve. Our New York spotlight brings together 500 Feet From Times Square and A $65 Million View of Manhattan, offering two perspectives on one of the world’s most compelling cities.

In Lucy Wu | Adapting to What’s Next, the focus turns to navigating change, while Milos | Experience the Unexpected invites us to approach discovery with an open mind.

Together, these stories reflect the curiosity behind Culture & Influence: an interest in the people, places, and ideas shaping our lives and the possibilities they reveal.

Thank you for joining us.

Richard Sandoval
Publisher
HL | Culture & Influence – HL | Media Network

About the Cover Photograph

 16th Avenue Tiled Steps
Located on Moraga St. between 15th & 16th Ave.
San Francisco CA USA  
Photographed by Richard Sandoval | June  2026

Art and community come together at San Francisco’s 16th Avenue Tiled Steps, where 163 mosaic-covered steps trace a vibrant journey from the sea to the stars. Designed by artists Aileen Barr and Colette Crutcher, this Golden Gate Heights landmark celebrates the beauty neighbors can create together.

FEATURED ARTICLES

ON THE MENU
Milos | Experience the Unexpected

THE WAY WE TRAVEL
500 Feet From Times Square

SPOTLIGHT
Lucy Wu | Adapting to What’s Next

INSIGHTS
Becoming Part of the Conversation

The Renaissance of the U.S. Hispanic Consumer

REAL ESTATE
A $65 Million View of Manhattan

More Stories

The Renaissance of the U.S. Hispanic Consumer

The Renaissance of the U.S. Hispanic Consumer

Sep 4, 2026 | Culture and Influence, Money, Finances & Wealth

HL | CULTURE & INFLUENCE

The Renaissance of the U.S. Hispanic Consumer

For decades, America learned to measure the Hispanic market by what it consumed. The next chapter may increasingly be measured by what it owns.

Photos and article by
Richard Sandoval

here is no shortage of uncertainty surrounding the American consumer.

The cost of groceries, housing, energy and everyday necessities continues to influence decisions around kitchen tables and inside businesses across the country.

Yet amid that uncertainty, something interesting is happening.

For years, reports have documented the growing purchasing power and economic contributions of U.S. Latinos. The 2026 U.S. Latino GDP Report estimates that Latinos generated $4.4 trillion in U.S. economic output in 2024.

That is an impressive number.

But numbers alone don’t tell the story.

What Do We Value?

Consider a painting created more than eight decades ago.

In 1940, Mexican artist Frida Kahlo painted El sueño (La cama) – The Dream (The Bed).

When the painting sold through Sotheby’s in 1980, it brought $51,000.

In November 2025, the same painting returned to auction and sold for $54.66 million, establishing a record for Kahlo and Latin American art.

Think about 1980 for a moment.

Someone might have purchased a home for $50,000. An entrepreneur might have been growing a business worth little more than an idea, some equipment and a willingness to work.

Few could have imagined what some of those assets might eventually become.

A Kahlo masterpiece certainly shouldn’t be reduced to an investment calculation. Its cultural importance extends far beyond its auction price.

But its journey raises an interesting question:

How do we recognize value?

A home can have value.

A business can have value.

Art, ideas, brands, real estate and intellectual property can have value.

Ownership allows people to participate when that value grows.

Frida Kahlo | El Sueño (La Cama) — The Dream (The Bed), 1940

Oil on canvas. Kahlo’s deeply personal work sold for $51,000 in 1980. In November 2025, it returned to auction at Sotheby’s New York and sold for $54.66 million — a remarkable journey in cultural and economic value that inspired a central question in our story: How do we recognize value?

Artwork image: WikiArt | Public domain

From Consumer to Owner

That brings us to two recent developments in Major League Baseball.

In August 2026, MLB owners unanimously approved the transfer of control of the San Diego Padres to an ownership group led by investors Kwanza Jones and José E. Feliciano. The transaction has been widely reported at a $3.9 billion valuation.

Feliciano, who was born in Puerto Rico, is co-founder and managing partner of Clearlake Capital Group. He and Jones, an investor, entrepreneur and executive, jointly lead the Padres ownership group.

Then came news involving a businessman Hispanic Lifestyle has followed for more than two decades: Arte Moreno.

Moreno purchased the Angels from The Walt Disney Company in 2003 for approximately $184 million, becoming Major League Baseball’s first Latino controlling owner.

In September 2026, an agreement was announced to sell the Angels to Kroenke Sports & Entertainment. Published reports have valued the transaction at approximately $4 billion, although financial terms were not officially disclosed.

For us, the Moreno story carries a little history.

Hispanic Lifestyle was among the Hispanic media outlets that interviewed Moreno shortly after he became owner of the Angels. I remember meeting him at a Latino Business Association event.

My impression was that he wasn’t particularly comfortable with the spotlight.

What was unmistakable was the significance of the entrepreneur standing before us.

He was a businessman.
An owner.
A trailblazer.

More than two decades later, that distinction seems even more important.

More Than Purchasing Power

Moreno, Feliciano and Jones aren’t isolated examples.

Puerto Rico-born Orlando Bravo, founder of Thoma Bravo, has become one of the most prominent Latino investors in private equity and technology.

These are extraordinary individuals operating at extraordinary financial levels. Their experiences don’t represent the typical Hispanic household.

But they encourage us to ask different questions.

For decades, businesses have wanted to know:

How many Latinos are there?
What do they buy?
How much do they spend?

Perhaps the next set of questions should include:

What are we building?
What are we investing in?
What do we own?
What will we eventually pass forward?

 

A Changing Economic Story

We can see pieces of that progression throughout our community.

Business owners are growing companies. Professionals are advancing in their careers. Families are buying homes. Entrepreneurs are investing. Executives are accumulating assets. Some are preparing businesses and property to eventually pass to the next generation.

The scale may be dramatically different from a $54 million painting or a multibillion-dollar baseball franchise.

The underlying idea is much more familiar.

Build something. Own something. Increase its value. Carry something forward.

There are still significant disparities in household wealth, homeownership and access to capital. A growing Latino economy does not mean every Latino family is prospering.

A Renaissance isn’t a declaration that the work is finished.

It is recognition that something is changing.

What Comes Next

This is a story we intend to continue exploring.

Over the coming months, HL Media Network, through HispanicLifestyle.com and HL | Culture & Influence, will talk with business owners, professionals, executives, investors, financial experts and families.

We want to better understand homeownership, entrepreneurship, investment, business succession and the transfer of assets and knowledge between generations.

We will ask questions.
We will listen.
We will discover, document and share what we learn.

For decades, America learned to measure the Hispanic market by what it consumed.

Perhaps the more interesting question now is: What will it own?

Welcome to The Renaissance of the U.S. Hispanic Consumer.

The Numbers Behind the Renaissance

2026 U.S. Latino GDP Report
Research measuring the economic output and growth of the U.S. Latino economy.

State of Latino Entrepreneurship
Stanford research examining Latino-owned businesses, entrepreneurship, business growth and access to capital.

Survey of Consumer Finances
Federal Reserve research providing context about household assets, liabilities and wealth.

Latino Wealth Research
Research examining household wealth, economic mobility and barriers to asset building.

EDITOR NOTES 

For more than 30 years, our work has centered on discovering, documenting and sharing the stories of Latino business owners, professionals, executives, entrepreneurs and community leaders.

That work began with Hispanic Lifestyle and continues today across the platforms of HL Media Network.

The reports referenced in this article help us understand the scale of the economic changes taking place. But there is something the numbers don’t always tell us:

Who are the people behind them?

That’s what interests us.

There are thousands of business owners, professionals, executives, investors and families whose individual stories rarely appear in economic reports.

Over the coming months, we intend to find some of them.

We will travel, attend conferences, have conversations and ask questions particularly the questions people may not know they need to ask.

The numbers can help us recognize that something significant is happening.

The people will help us understand what it means.

 

500 Feet From Times Square

500 Feet From Times Square

Sep 4, 2026 | The Way We Travel

HL | THE WAY WE TRAVEL • NEW YORK

500 Feet From Times Square

For a solo business trip to Manhattan, I discovered that sometimes a smaller hotel room and a great location are exactly what I need.

Photos and article by
Richard Sandoval

he way I choose a hotel changes depending on how I am traveling.

When I travel with my family, space matters. Comfort matters. The property itself can become part of the experience.

When I am traveling alone for business, my priorities are different. Give me somewhere clean, comfortable, fairly priced and close to where I need to be.

During my latest Manhattan visit, that led me to Motto by Hilton, roughly 500 feet from Times Square.

The room?

I’m going to call it a micro room.

It was compact. Very compact. But it had everything I needed.

The property was clean and comfortable, and the location made it particularly useful for the way I like to experience Manhattan.

I walk

Whenever possible, I would rather leave the hotel and experience the city on foot. Walking gives me an opportunity to understand the neighborhoods, notice businesses, photograph street scenes and experience some of the energy that makes Manhattan fascinating.

From Motto, I could step outside and immediately be in the middle of it. Times Square was only moments away. Restaurants, businesses, people and transportation were all around me.

I wasn’t paying for a large room I wasn’t going to use. I was paying for access to Manhattan.

That distinction matters.

Would I necessarily choose the same room for a family vacation? Probably not. For a solo business trip where much of my day would be spent walking, meeting people, attending events and experiencing the city?

Absolutely. Sometimes luxury is having more space. Sometimes it is walking out the front door and being exactly where you want to be.

HL | PHOTO JOURNAL

500 Feet From Times Square

500 Feet From Times Square

EDITOR NOTES 

The Way We Travel looks at destinations through our own experiences rather than simply telling readers where to go. This story is part of HL | New York – People. Places. Conversations., connecting travel with the people, places and conversations we encounter along the way.

CONTINUE EXPLORING: Going With the Flow at Milos • A $65 Million View of Manhattan • Becoming More Than a Visitor

A $65 Million View of Manhattan

A $65 Million View of Manhattan

Sep 3, 2026 | Home Tu Casa, Lifestyle

HL | NEW YORK • REAL ESTATE

A $65 Million View of Manhattan

A remarkable residence, an extraordinary view and an opportunity to see Manhattan luxury real estate through the eyes of Lucy Wu.

Photos and article by
Richard Sandoval

here are moments when photographs tell the story better than words.

Walking out of the elevator into a Manhattan residence valued at approximately $65 million was one of them.

There seemed to be another reason to say “wow” everywhere I looked.

The residence offered extraordinary views in virtually every direction. Manhattan stretched out before us, with Central Park and the surrounding skyline becoming part of the interior experience.

An office with a view

I have photographed some remarkable places over the years. This one was different.

Part of what made the experience interesting was seeing the property with Lucy Wu.

Lucy works in New York luxury real estate, and she was completely in her element as we walked through the residence. She shared insights about the property, the surrounding market and the realities of representing real estate at this level.

The experience was not simply about seeing an expensive home. It was an opportunity to better understand another part of Manhattan.

One of my favorite photographs from the visit captures Lucy alongside a bathtub positioned against an expansive view of Central Park and Manhattan.

Yes, even the bathtub had a remarkable view.

Our exploration continued with a look at a new development along Billionaires’ Row.

These are properties most people will never purchase and many will never enter.

But they tell a story.

They reflect architecture, investment, wealth, development and the continuing evolution of one of the world’s most closely watched real estate markets.

The $65 million price tag certainly gets your attention. The view gets it too.

Having someone knowledgeable enough to provide context gave me something considerably more valuable: a different perspective on Manhattan.

HL | PHOTO JOURNAL

A $65 Million View of Manhattan | A tower off of Sutton Place

A $65 Million View of Manhattan

EDITOR NOTES 

This story is part of HL | New York – People. Places. Conversations., a continuing collection exploring New York through the people, places and experiences we encounter. Our look inside Manhattan luxury real estate was one stop during a day with Lucy Wu that also included food, business and conversations about what’s next.

CONTINUE EXPLORING: Lucy Wu | Adapting to What’s Next • Going With the Flow at Milos • Becoming More Than a Visitor

Lucy Wu | Adapting to What’s Next

Lucy Wu | Adapting to What’s Next

Sep 3, 2026 | The Business of Surviving to Thrive

THE OF BUSINESS OF SURVIVING TO THRIVE

Lucy Wu | Adapting to What’s Next

From her family’s restaurant businesses to fashion and New York real estate, Lucy Wu’s story reflects an ability to recognize opportunity, adapt to changing circumstances and keep moving forward.

Photos and article by
Richard Sandoval

ometimes you meet someone through a colleague and quickly understand why the introduction was made.

That was the case with Lucy Wu.

Our colleague Nelson Ramos of Wells Fargo introduced us ahead of our HL | Milestone Series – New York event at Bally’s Golf Links at Ferry Point, where Lucy participated as a panelist.

Nelson thought highly of her insights, ambition and personality. It did not take long for me to understand why.

Lucy has a way of making people feel as though they have known her for years. As our conversations continued following Milestone New York, I became interested in something beyond her professional accomplishments.

Where did that entrepreneurial spirit and ability to adapt come from?

An American Dream Takes Shape

Lucy’s answer begins with her family’s journey to America.

Her father arrived in New York in 1980 without speaking English. His first jobs included working as a delivery boy and dishwasher at a Chinese restaurant.

He eventually moved into Japanese restaurants and worked his way up to assistant chef. Along the way, he recognized opportunities that might eventually allow him to build something of his own.

“He always knew he wanted to own a business; that was his American dream,” Lucy shared.

While learning the restaurant business, he quietly collected vendor information from business cards and newspaper clippings, preparing for an opportunity he hoped would eventually come.

Lucy and her mother joined him in 1983. Her mother, who had taught British English in China, handled the front of the house and accounting while her father managed the kitchen and operations.

Together with family members, they opened their first restaurant in Cobble Hill, Brooklyn, in 1986, followed by another in Park Slope around 1989.

According to Lucy’s family account, they later took over Fuji, a long-established Japanese restaurant that brought the family and eventually Lucy to Hell’s Kitchen.

Lucy Wu | In Her New York Element

Lucy was a featured a panelist at our Milestone | New York Event

From Restaurants to Real Estate

The restaurant business also introduced Lucy’s father to another opportunity: real estate.

“He didn’t understand and never trusted the stock market, but he understood real estate,” Lucy explained. “It wasn’t going anywhere; it was tangible, and it was their retirement income waiting to happen.”

Her parents became mom-and-pop landlords while continuing to operate their restaurants.

Lucy grew up watching them buy, sell and manage properties.

Years later, when she was laid off from a career in fashion, entering real estate did not feel like starting over.

“When I got laid off from fashion, real estate wasn’t a leap,” Lucy said. “It was already in my blood.”

That transition says something important about Lucy’s story.

Careers change. Industries change. Markets change.

The ability to recognize opportunity and adapt may be one of the most valuable lessons passed from one generation to another.

Today, Lucy works in New York luxury real estate, helping clients navigate decisions that extend well beyond a transaction. She also sees herself moving increasingly into a thought-leadership role while continuing to ask questions about what might come next professionally and personally.

Her story is a reminder that entrepreneurship is not always learned in a classroom. Sometimes it is learned watching your parents work. Sometimes it begins in a restaurant kitchen. Sometimes it requires leaving one career and recognizing an opportunity in another.

For Lucy Wu, adapting to what’s next is not simply about responding to change.

It is part of the family story.

EDITOR NOTES 

Our relationship with Lucy Wu began through the HL | Milestone Series – New York and continued through conversations and experiences that introduced us to another side of the city. This story is part of HL | New York – People. Places. Conversations., our continuing collection exploring New York through the people we meet and the experiences we share.

CONTINUE EXPLORING: A $65 Million View of Manhattan • Going With the Flow at Milos • Becoming More Than a Visitor