Richlister plans ‘world most expensive’ $1.7 billion home
At $US1bn ($A1.7bn), this Miami estate is set to be the world’s most expensive home.
A little known rich-lister is set to blow the likes of Jeff Bezos and Mark Zuckerberg out of the water, with plans to build the world’s most expensive home – a $1.7bn lifestyle Nirvana.
Palm Beach, Florida, a playground for the rich and famous, is no stranger to opulence.
But it seems that billionaire hedge-fund manager Ken Griffin is taking luxury living to a whole new level.
Griffin, is turning heads with his ambitious plans to create the most expensive home not just in America — but on the planet.
![Ken Griffin estate, Palm Beach, Florida, USA](data:image/svg+xml,%3Csvg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 1280 720"%3E%3C/svg%3E)
The massive resort-style pool
New York Post reports, the enigmatic financier, known for his vast wealth and astute investments as founder and CEO of the once Chicago-based Citadel, now Miami, has made headlines by acquiring more than 20 acres of prime Palm Beach real estate.
What’s even more astounding is that Griffin, 55, has obliterated the existing homes on this sprawling property, with intentions to spend between a staggering $150 to $400 million on constructing a mega-estate that will be worth an estimated $1 billion upon completion.
The home dwarfs that of Amazon founder Jeff Bezos, who scooped up a $125m mansion in Florida’s exclusive “Billionaire Bunker” island – two months after buying the home next door for $107m.
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Ken Griffin (R) and wife Anne Dias-Griffin in a 2009 photo/
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Griffin, who knows the wealthy enclave of Palm Beach intimately, is no stranger to grandeur.
Over the years, he has already assembled approximately 27 acres of beachfront real estate, which includes a couple of parcels on the Intracoastal Waterway.
This colossal property is situated just a quarter mile south of former President Donald Trump’s Mar-a-Lago, a stretch of South Ocean Boulevard renowned among locals as “Billionaires’ Row.”
Jeff Bezos reportedly scooped up a $125m mansion in Florida’s exclusive “Billionaire Bunker” island – two months after buying the home next door for $107m. Picture: Realtor
Records indicate that Griffin has earmarked hundreds of millions for the construction of his mammoth mansion, expected to be worth that sky-high sum, according to industry insiders.
As one industry insider pointed out, “If he spent nearly half a billion to buy up acres of land in Palm Beach over the last decade and is expected to spend $150 million more to build an entirely new home, that piece of property is worth at least $1 billion now.”
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The home will take up 8 acres of the 25-acre estate.
The house will feature huge floor to ceiling glass windows.
When reached for comment about Griffin now owning the most valuable home in America, a spokesperson for Griffin cited Florida’s policies that have skyrocketed the values of properties in the area.
“The vast majority of the properties Ken owns are in South Florida. Palm Beach real estate is among the most valuable in the world because of the pro-growth and pro-business policies voted for by the citizens of Florida,” Zia Ahmed, a spokesperson for Griffin, said.
Griffin unveiled part of his grand vision for a beachfront mansion, which is to be built on a 7½-acre portion of his sprawling ocean-to-lake estate.
With an impressive 50,000 total square feet, including the service basement, the contemporary-style house and guesthouse will be a testament to extravagant living.
This estate’s acreage marks the largest of its kind in Palm Beach, beating out Trump’s Mar-a-Lago estate, which is on almost 20 acres.
Miami is known for its opulent homes.
Griffin’s estate’s acreage marks the largest of its kind in Palm Beach, beating out Trump’s Mar-a-Lago estate, which is on almost 20 acres. Picture: Getty
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Facebook founder Zuckerberg has a property portfolio worth around $400m, including hundreds of acres in Hawaii.
Griffin initiated the acquisition of this property 10 years ago, investing no less than $450 million in real estate, fees and tear downs, according to records.
Sources familiar with the project reveal that the residence, on Blossom Way, will initially be used by Griffin’s mother, Catherine Gratz Griffin.
Mark Zuckerberg owns hundreds of acres in Hawaii including this estate.
The billionaire has even grander designs in the works, as he plans to utilise the entire estate as his retirement home in the future.
In May, Griffin filed an agreement with the county to consolidate all parcels on Blossom Way with his Ocean Boulevard properties, effectively creating a single vast estate, records obtained by The Post show.
The Architectural Board granted approval for a long-and-lean house on the north side of his Billionaires’ Row estate in June 2022.
This estate will occupy approximately 8 of the 27 acres Griffin and his companies own off South Ocean Boulevard.
The estate has been 10 years in the making.
Meanwhile, while renderings of the northern property have been revealed, an application for a property in the southern part of the compound was recently submitted for approval, documents obtained by The Post show.
Construction machinery is already visible at the far end of the lot, once home to several mansions and now part of Griffin’s estate.
Renderings offer a glimpse into the lavish design, featuring an upper event lawn leading to a magnificent swimming pool with windows on both sides that frame mesmerising views of the Atlantic Ocean. The grand swimming pool will stretch from the residence to a vast lawn, creating a serene and picturesque oasis. The estate will also feature several meticulously landscaped gardens.
Another rendering reveals a caretaker’s cottage. Griffin’s journey in assembling this opulent oasis was made possible with the assistance of his longtime real estate broker, Lawrence Moens of Lawrence A. Moens Associates. The saga began in December 2012 when Griffin, through two separate shell companies, acquired four adjacent properties totalling 8 acres on Blossom Way in the Blossom Estate subdivision for a recorded $129.6 million, giving him an astounding 560 feet of oceanfront.
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A floor plan of the giant estate. Picture: Town of Palm Beach
Today, Griffin, worth an estimated $34.2 billion, now owns a string of properties along Blossom Way, which once held addresses 10 Blossom Way, 20 Blossom Way, 30 Blossom Way, 40 Blossom Way, 50 Blossom Way, and 70 Blossom Way.
In the summer of 2015, a Griffin-controlled company made another remarkable acquisition, purchasing that non-waterfront house and guesthouse at 70 Blossom Way for $15.25 million, which added 1.44 acres to his already vast holdings. January 2017 witnessed yet another jaw-dropping deal when a Griffin-controlled company forked out a colossal $85 million for an oceanfront mansion at 1290 S. Ocean Blvd., just south of his other estate.
This purchase expanded his property to 12 contiguous acres, boasting a cool 871 feet of oceanfront. However, Griffin’s ever-evolving plans didn’t stop there. By the spring of 2018, a transaction shrouded in secrecy added the first lakefront property, boasting 2 acres and 193 feet on the Intracoastal Waterway, to his estate. Although the exact price remains undisclosed, industry observers estimated that this acquisition cost him as much as $20 million.
La Follia was previously the most expensive home in Palm Beach, Florida, when it sold for $US110.25m ($A174m) in 2019. Picture: DOUGLAS ELLIMAN REAL ESTATE
In September 2019, a company linked to Griffin paid $99.13 million for the mansion at 60 Blossom Way, which has since been razed to make way for the new mansion and guesthouse.
Those will boast stone exteriors, and modern, sleek lines.
In late June 2019, a Griffin-linked company paid $US104.99 million, briefly setting a Palm Beach sales price record, for an ocean-to-lake estate at 1295 S. Ocean Blvd. This significant acquisition, made just after the death of investment bank heiress and Broadway producer Terry Allen Kramer, added around 4.5 acres to Griffin’s massive Palm Beach property.
The summer of 2022 saw the town grant Griffin permission to build an oceanfront mansion designed for his mother, family members, and guests on approximately 8 acres at the northern end of his property. The rest of his estate remains undeveloped, leaving ample room for future expansions and innovations.
It’s worth noting that despite the magnitude of his Palm Beach holdings, Griffin has confirmed that he has relocated his family to Miami after moving his company from Chicago to the Magic City last year. The financier also shelled out $83 million for an office space on Worth Avenue, the iconic shopping boulevard in Palm Beach.
Parts of this article originally appeared in the New York Post and are republished here with permission.
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