Billionaire hedge-fund manager Kenneth Griffin, a prominent figure in the seaside town and a Florida native, is making headlines with ambitious plans to create not just the most expensive home in America but on the planet.
Griffin, a financier recognized for his vast wealth and investments as the founder and CEO of Citadel, has acquired over 20 acres of prime Palm Beach real estate. The 55-year-old has demolished the existing homes on this sprawling property, with intentions to spend between a staggering $150 to $400 million on constructing a mega-estate that is estimated to be worth a mind-boggling $1 billion upon completion.
But Griffin's vision doesn't stop there. He has already assembled approximately 27 acres of beachfront real estate, including parcels on the Intracoastal Waterway, situated just a quarter mile south of former President Donald Trump's Mar-a-Lago, renowned among locals as "Billionaires' Row."
Industry insiders suggest that the property is now worth at least $1 billion after his investments in land and construction. Griffin's spokesperson, Zia Ahmed, attributes this to Florida's pro-growth and pro-business policies.
Griffin's grand vision for a beachfront mansion is taking shape, with a planned 50,000 square feet, including a service basement. The estate will be the largest of its kind in Palm Beach, outstripping even Trump's Mar-a-Lago.
The designs, accessed by several media houses, show an upper event lawn leading to a massive swimming pool with windows on both sides and views of the ocean.
The swimming pool will stretch from the residence to a vast lawn that is set to feature several landscaped gardens. There will also a be caretaker’s cottage on the premises.
In addition to the beachfront mansion, Griffin plans to utilize the entire estate as his retirement home in the future, according to the New York Post.
This story began in December 2012 when Griffin acquired adjacent properties on Blossom Way, giving him a staggering 560 feet of oceanfront. Today, he owns a string of properties along Blossom Way, each contributing to his sprawling estate.
In addition to his real estate investments, Griffin also shelled out $83 million for an office space on Worth Avenue, the iconic shopping boulevard in Palm Beach.
Griffin’s net worth is $34.2 billion.
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