Palm Beach might be the home of the rich and famous, but there’s an eye-wateringly expensive new addition to the neighbourhood.
It’s after a hedge-fund manager has decided to build a luxurious home, worth an estimated $1 billion upon completion.
As if the home wasn’t impressive enough, the sprawling estate will become the most expensive home on Earth!
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Situated in an area dubbed Billionaire’s Row by locals, the South Ocean Boulevard site is currently under construction.
The palatial pad has become a labour of love for owner and businessman, Ken Griffin, who has spent years buying up property in the area.
In fact, the businessman has spent an estimated $450 million purchasing over 27 acres of beachfront real estate to complete his dream home.
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Not only that, but the New York Post claims that the hedge fund manager has put aside millions to complete the property – which rivals almost every luxury property in the world.
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A spokesperson for Griffin, Zia Ahmed, challenged this and said that rising house prices had contributed to the cost of the project.
“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,” she told the outlet.
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However, the cost of the build isn’t the only impressive thing about the billionaire’s future home.
Built in a contemporary style, the property will have incredible views of the Atlantic Ocean throughout, thanks to the ceiling-to-floor windows.
There will also be an incredible swimming pool, running from the house to the large lawns for the billionaire to chill out in after a hard day at the office.
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Having amassed a fortune of $34.2 billion, it’s unlikely that Griffin will struggle to find ways to unwind at the home on Blossom Way.
Even purchasing six properties for the epic project doesn’t seem to have put a dent in his budget, despite each home costing up to nearly $130m.
Having bought his first home on Blossom Way in 2012, the businessman bought four properties under two shell companies for $129.6 million.
Not settled with his huge estate, Griffin continued to purchase homes until 2019, with one of his firms paying $104.99 million for the final home.
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Here’s hoping he is happy with the overall design, once he moves in.
Katherine Sidnell