Ken Griffin Building Billion-Dollar Palm Beach Home Located A Half-Mile from Donald Trump’s Mar-a-Lago

Ken Griffin, founder and CEO of hedge fund agency Citadel, is making headlines in the actual property world once more.

The Florida native continues to buy properties and land in Palm Seaside as he prepares to construct one of the crucial costly residences on the planet. In 2019, Griffin made historical past by buying a New York Metropolis penthouse for $238 million — on the time the most costly residential property transaction in america.

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Born in 1968 in Daytona Seaside, Florida, Griffin is at No. 35 on the Forbes Actual-Time Billionaire’s listing as of Oct. 26 with a internet value of $33.5 billion. In 1990, he based Citadel, a multibillion-dollar hedge fund and monetary companies firm. He’s regularly interviewed in regards to the financial system and subjects akin to generative synthetic intelligence (AI).

Griffin’s new residence will grow to be one in every of Palm Seaside’s most expansive non-public waterfront properties. He reportedly has invested $450 million and spent a decade placing collectively a 25-acre parcel on Billionaires Row. When completed, the 50,000-square-foot property ought to attain a worth of $1 billion. The property is a few half-mile south of former President Donald Trump’s Mar-a-Lago Membership in one of the crucial costly and unique areas within the nation. Billionaires residing no less than a part of the time in Palm Seaside embrace socialite Julia Koch, Blackstone Group CEO Stephen Schwarzman and former Interactive Brokers CEO Thomas Peterffy.

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Palm Seaside, one of many wealthiest cities in america, is on a barrier island throughout from West Palm Seaside about 70 miles south of downtown Miami.

The Palm Seaside architectural board authorised plans for the beachfront property on Blossom Manner in 2022. The event will occupy roughly 8 of the 25 acres and embrace a swimming pool, a major residence and a visitor home. Initially supposed for Griffin’s household, together with his mom, the property might finally function his retirement house.

Griffin’s foray into Palm Seaside actual property started in 2012 when he acquired 4 oceanfront properties for a mixed $129.6 million. Since then, he has added a number of adjoining estates on Blossom Manner and Ocean Boulevard. In 2019, an organization linked to Griffin acquired a 4½-acre lot and mansion for $104.99 million, setting a brand new actual property document for the realm. In July 2023, 125 Price LLC, an organization linked to Griffin and Citadel, purchased a property for $83 million that Citadel intends to make use of as workplace house.

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