Joseph Magazine & Justus Parmar on Fortuna Investments, Miami’s Growth and Public-Private Leadership

Miami Living Magazine sits down for an exclusive joint interview with Joseph Magazine and Justus Parmar to discuss Miami’s rise as a global business hub, Fortuna Investments’ growing role in the city and the link between public service, capital and innovation.

Joseph Magazine is a Miami Beach Commissioner and Partner at Fortuna Investments, bringing experience in local government, finance and civic leadership. In the interview, he explains how overseeing a $1 billion municipal budget shapes his views on accountability, investment discipline and long-term growth.

Justus Parmar, a leader at Fortuna Investments, discusses why Joseph’s background in public office, Wall Street and Miami’s business community made him the right fit for the firm. He also shares how his small-town upbringing in Canada shaped his work ethic, ambition and approach to building relationships.

Together, they examine Miami’s momentum in finance, technology, energy, defense and frontier industries, while addressing infrastructure, mobility, housing affordability and the need for public-private alignment as the city enters its next phase of growth. You can check Fortuna's official website here.

Miami Living (ML): Joseph, how do you balance your responsibilities as a Miami Beach Commissioner with a leadership role at Fortuna Investments?

Joseph: Every challenge and opportunity I take on in life is because I am incredibly passionate about the daily endeavors and also the long-term impact I can make for my family and my community. Balance probably isn't the best word to describe me, as I am moving at 100mph pretty much 24/7. Balance to me probably looks something like being on a Zoom call for Fortuna, talking with a resident about community issues while trying to get a workout in, all at the same time. Some version of that chaos is pretty much happening from 7 am to 11 pm, but it's how I operate best. And as cliché as it sounds, if you truly love what you do, it never feels like work. 

I also think there is value in having leaders who understand both worlds. Cities today are competing globally for talent, investment, and innovation.

Understanding how businesses think, how capital moves, and what companies need to grow can help communities position themselves more effectively for the future.

ML: Justus, what specifically about Joseph’s experience in public office made him the right fit for a Partner role at Fortuna?

Justus: Joseph brings a rare combination of financial markets experience, public service, and real community leadership. His background on Wall Street gives him a strong understanding of capital markets, while his time in public office speaks to something equally important: character, trust, and accountability.

In public office, your word matters. You are accountable to people, not just outcomes, and I think Joseph has proven himself to be someone who leads with integrity, values, and a genuine desire to serve. He is respected by his colleagues, his constituents, and the broader business community, which says a lot about the way he operates.

For Fortuna, we look for partners who are not only commercially sharp but also principled, connected, and willing to take bold action. Joseph fits that profile. He understands business, he understands people, and he wants to use his experience and relationships to help build things that can make a real difference.

ML: Joseph, how has your position overseeing a $1 billion municipal budget shaped the way you evaluate private investment opportunities?

Joseph: Overseeing a municipal budget of that scale forces you to think beyond short-term returns and focus on long-term value creation. In government, every dollar ultimately belongs to the public, so you develop a mindset around accountability and making decisions that can stand the test of time.

That perspective absolutely influences how I evaluate private investments. I tend to focus heavily on fundamentals, leadership quality, execution capability, and whether a business is solving a real problem in a sustainable way that not only benefits the bottom line but also makes our country more competitive in the global economy. I also look closely at downstream impacts — not just whether something can generate returns, but whether it creates jobs, strengthens infrastructure, improves productivity, or contributes to broader economic growth.

Public service also teaches you that incentives matter. The best investments, whether public or private, align stakeholders in a way that benefits everyone over the long run. That framework has become a major part of how I think about opportunities at Fortuna.

ML: Joseph, there’s often scrutiny when public officials step deeper into private business; how do you address concerns around conflicts of interest or influence?

Joseph: Transparency, ethics, and clear separation are critically important. I take those responsibilities very seriously because public trust matters. Any role in public office comes with heightened scrutiny, and rightfully so.

My approach is straightforward: public decisions must always be made based on what is best for the residents of Miami Beach, independent of any private business activity. And with our mandate here at Fortuna, there is nothing that directly overlaps with what we are doing at a local level. That part is actually pretty easy.

At the same time, I think there is tremendous value in having people in government who understand business, finance, and economic development firsthand. The private sector often moves quickly and innovates rapidly, and cities benefit when policymakers understand how to responsibly create environments where businesses, entrepreneurs, and residents can all succeed together.

For me, integrity is everything. Your reputation is built over years and can be lost quickly, so I approach every decision with that in mind. I always have, and I always will.

ML: Justus, Miami has positioned itself as a pro-business hub. How critical is Joseph’s local government insight to navigating that ecosystem?

Justus: Joseph’s local government insight is incredibly valuable because Miami is no longer just a regional business hub. It has become a global powerhouse, hosting major international events, attracting global capital, and drawing some of the most ambitious founders, investors, and companies in the world.

Joseph has been on the front lines of that transformation. He understands the opportunities, but he also understands the practical issues businesses face when they are trying to grow here. That perspective matters. He is pro-business, he believes deeply in Miami’s potential, and he wants to help move the city forward in a way that makes it easier for companies to build, expand, and succeed.

For Fortuna, that kind of insight is invaluable. It gives us a closer look at the industries that are emerging, the problems that need to be solved, and the areas where capital and strategic support can make a real impact. Joseph understands both the public and private sides of the ecosystem, and that makes him an important voice as we continue to grow our presence in Miami.

ML: Joseph, what unique advantages does Miami offer today for sectors like defense, energy and frontier technologies; and where is the city still catching up?

Joseph: Miami today has several major advantages that are increasingly attracting sectors like defense, energy, AI, aerospace, and frontier technologies. First is quality of life. People underestimate how important that is for attracting elite talent. Miami offers a unique combination of lifestyle, global accessibility, tax advantages, and entrepreneurial energy that is difficult to replicate elsewhere.

Talent and connectivity. Miami has become an international crossroads where founders, investors, engineers, operators, and global capital are all converging in one place. That network effect is powerful.

Second is mindset. Florida and Miami have generally embraced a more pro-growth, innovation-friendly approach compared to many legacy cities. Companies want environments where they can move quickly, attract talent, and operate with less friction. That matters a lot in emerging industries.

Third is talent and connectivity. Miami has become an international crossroads where founders, investors, engineers, operators, and global capital are all converging in one place. That network effect is powerful.

Where we are still catching up is infrastructure and institutional depth. Cities like New York, San Francisco, Boston, and Washington have spent decades building dense ecosystems around finance, defense, academia, and advanced technology. Miami is building that rapidly, but we still need continued investment in education, transportation, research partnerships, and workforce development if we want to fully compete at the highest level over the long term. We are fortunate that we have some incredible stakeholders in our community that don't just care about their bottom line, but are actively working on entrepreneurial efforts to move our entire region forward.

The good news is the trajectory is very strong. Miami is no longer simply a hospitality or tourism market. It is increasingly becoming a serious center for capital, innovation, and global business. The whole world has sat up and taken notice, now it's in our hands to continue moving forward.

ML: Justus, Miami has seen an influx of family offices and institutional capital. How do you both plan to activate that network through Fortuna?

Justus: Fortuna is a diversified investment firm. We have clear sectors where we spend a lot of time and conviction, but we also remain open-minded when compelling opportunities come across our desk.

Miami has become an increasingly important center for family offices, institutional capital, entrepreneurs, and global investors. Joseph’s network in that ecosystem is extremely valuable. He has deep relationships across family offices and institutions, and more importantly, he is a true relationship builder. He knows how to bring the right people into the right rooms and create meaningful opportunities from those connections.

Through Fortuna, our goal is to activate that network in a thoughtful and strategic way. That means connecting capital with high-quality opportunities, supporting our portfolio companies with the right relationships, and continuing to attend and participate in the conferences, meetings, and conversations that are shaping Miami’s business community.

Joseph has already been instrumental in helping expand Fortuna’s presence in Miami, and his ability to connect people, institutions, and ideas will be a major part of how we continue to grow. 

ML: Joseph, how do you ensure that economic growth driven by investment firms like Fortuna translates into tangible benefits for Miami Beach residents?

Joseph: Economic growth only works long term if residents actually feel the benefits in their daily lives. That means focusing not just on headlines or investment dollars, but on outcomes like job creation, higher wages, stronger local businesses, safer neighborhoods, and improved quality of life.

One of my priorities has been helping position Miami Beach to attract more high-paying, year-round industries like finance, technology, and innovation-driven companies. Those sectors create professional opportunities for residents, diversify the local economy, and help support restaurants, retail, wellness, hospitality, and other small businesses throughout the city.

At the same time, growth has to be balanced and responsible. Infrastructure, housing affordability, traffic, and neighborhood character all matter. Economic development should not come at the expense of the community that already exists here.

I believe the best public-private partnerships are the ones where residents, businesses, and the broader community all move forward together. If Miami Beach can continue attracting talent and investment while preserving the quality of life that makes the city special, that is a win for everyone. And I truly believe that is the path that we are on.

ML: Justus, what role does policy and policymakers like Joseph play in accelerating innovation in sectors like nuclear and mining?

Justus: Policy and policymakers play a critical role in accelerating innovation, especially in sectors like nuclear, mining, critical minerals, and energy. These are industries with enormous potential, but they also require the right regulatory environment, the right public-private collaboration, and leaders who understand how important they are to the future of the economy.

Nuclear is a great example. For a long time, it carried a complicated reputation, but today it is becoming increasingly clear that nuclear has to be part of the conversation if America is going to meet its growing energy needs. Between AI, data centers, manufacturing, electrification, and national security, the demand for reliable energy is only increasing. Policymakers have a major role to play in helping modernize regulations, remove unnecessary barriers, and move these industries forward responsibly.

That is where someone like Joseph is valuable. He understands that innovation does not happen in a vacuum. It requires capital, entrepreneurs, infrastructure, and policy that allows great companies to actually build. He sees the importance of advancing these sectors not only for business, but for the broader economy, the city, and the country.

For Fortuna, we are actively involved in many of these themes, so having Joseph’s perspective and experience is extremely helpful. He brings a practical understanding of how policy can support growth while still maintaining strong standards, accountability, and ethics.

ML: Joseph, what have been the biggest misconceptions about Miami’s business environment that you’ve encountered, both in government and finance?

Joseph: One of the biggest misconceptions is that Miami is still primarily a tourism-driven or lifestyle economy without serious business depth. That may have been more accurate a decade ago, but today the reality is very different. 

Miami has become a major center for finance, technology, private equity, venture capital, digital assets, real estate, hospitality, and increasingly frontier industries as well. Some of the most influential investors, founders, and entrepreneurs in the country are spending significant time here or building here full time.

Another misconception is that Miami’s growth is temporary or purely tax-driven. Taxes are certainly part of the equation, but what is really happening is broader than that. People are moving here because Miami has developed genuine momentum, global connectivity, entrepreneurial energy, and an increasingly sophisticated business ecosystem while also offering some of the best quality of life anywhere in the world.

ML: Justus, how important is it to understand the local culture and policy landscape when investing in a city like Miami?

Justus: Understanding the local culture and policy landscape is critical when you are investing in any city, and Miami is no exception. Before you put capital to work, you need to understand the people, the business climate, the regulatory environment, and the direction the city is moving in.

Miami is one of the most dynamic cities in the country right now. It has a unique culture, an international mindset, a strong entrepreneurial spirit, and a growing reputation as a place where business can move quickly. You have global capital, family offices, founders, developers, athletes, entertainers, and institutional investors all converging here, which creates a very powerful ecosystem.

But to invest successfully, you cannot just look at the headlines. You have to understand how the city actually works. You need to know the local relationships, the policy priorities, the opportunities, and the challenges. That insight helps you make better decisions, identify where growth is really happening, and understand how to support businesses in a way that aligns with the future of the city.

For Fortuna, Miami is an important market because it represents so much of where the economy is heading: innovation, capital formation, global connectivity, and pro-business leadership. Understanding the culture and policy landscape allows us to invest with more conviction and to be better partners to the companies and people building here.

ML: Justus, tell us something that people might be surprised to know about you.

Justus: People might be surprised to know that I grew up in a small town in Canada with about 40,000 people and one McDonald’s.

I think that upbringing shaped me in a lot of ways. It gave me a strong work ethic, a sense of humility, and an appreciation for what it means to build something from the ground up. I didn’t come from a major financial center or a place where access was handed to you. I had to create my own path, take risks, and learn how to get into rooms that I wasn’t necessarily expected to be in.

That background is still a big part of who I am today. It keeps me grounded, and it reminds me that ambition can come from anywhere.

ML: What are your favorite places in Miami and what do you think could be improved (it can be anything)?

Justus: I love Miami Beach. I live on the Venetian Islands, I work on the Beach, and a lot of my favorite restaurants and day-to-day routines are centered there. There is something very special about being surrounded by the water, the energy, the architecture, and the international mix of people.

I also really like the Sunset Harbour area. It has a great neighborhood feel, good restaurants, fitness, wellness, and a nice balance between local community and Miami energy. It is one of those areas that feels very livable but still exciting.

Brickell is another area I enjoy. It has become a major business and dining hub, and there is a lot of momentum there. The only thing I would improve is the traffic and congestion going in and out. I would probably go there for dinner more often if it were easier to access. As Miami continues to grow, infrastructure and mobility will be important areas to keep improving so the city can continue to scale without losing the quality of life that makes it so attractive.

Joseph: Miami Beach is home for me, so naturally, many of my favorite places are there. I love the energy of areas like Sunset Harbour and South of Fifth because they combine walkability, health & wellness, great restaurants, and a real neighborhood feel while still having the excitement and international energy that makes Miami Beach unique.

Lincoln Road is another place I care deeply about because I think it represents so much of Miami Beach’s potential. We are making so much progress there, I am not sure if there is a more exciting future anywhere in all of Miami than Lincoln Road. You are seeing more finance firms, tech and creative companies, world-class restaurants, and wellness concepts coming into the area, and I think it is evolving into something much more dynamic than a traditional retail corridor.

I also enjoy Brickell because of the sheer momentum and business activity there. It has become one of the most important financial districts in the country almost overnight.

The biggest area for improvement is infrastructure and mobility, while also restoring the full time resident population in Miami Beach that is the lifeblood of our city. Miami’s growth has happened incredibly quickly, and transportation, traffic flow, and regional connectivity need to continue evolving alongside that growth. Housing affordability is another major issue. As successful as Miami has become, we have to ensure the city remains livable and accessible for the workforce and middle-class residents that are essential to the community’s long-term success. We must ensure everyone has the opportunity to take advantage of these amazing economic opportunities we are bringing to the region.

ML: Looking ahead, what does success in Miami look like for Fortuna over the next 3–5 years and what role will public-private alignment play in that vision?

Justus: Success for Fortuna in Miami over the next three to five years means becoming a household name in the city, not just as an investment firm, but as a firm that is genuinely helping Miami grow.

That means hiring more people locally, supporting entrepreneurs, partnering with other family offices, and becoming embedded in the business ecosystem here.

It also means looking at some of the real challenges that come with Miami’s growth. For example, as more families consider relocating here, access to great schools is becoming a major issue. Many of the top private schools are extremely difficult to get into, and that can deter talented families from making Miami their long-term home. If there is a way for Fortuna to help support or even bring a new high-quality school to Miami, that would be incredibly meaningful for the city.

Public-private alignment is a big part of that vision. The private sector can bring capital, relationships, and execution, while local leadership can help create the right environment for growth. If those forces work together, Miami can keep attracting top talent, strong companies, and long-term investment.

You can follow Joseph on:

Instagram | X | LinkedIn

You can follow Justus on:

Instagram | X | LinkedIn

By ML Staff. Photos by Mary Beth Koeth