Billionaire Ken Griffin to build most expensive home on Earth
Hedge-fund billionaire Ken Griffin plans to build the most expensive home on the planet. The mansion is projected to be worth $1 billion upon completion. Griffin recently acquired over 20 acres of prime Palm Beach real estate in Florida, United States. The mansion spans South Ocean Boulevard and Blossom Way a stretch in Miami Boulevard known as "Billionaire's Row."
Previous purchases
Griffin, the CEO of the Miami-based hedge company Citadel is not new to grandeur. Griffin presently possesses over $600 million in personal real estate, which includes ancient mansions in London, condominiums in Manhattan and Chicago, and properties in Palm Beach. He had already amassed about 27 acres of beachfront property over the years, including a few lots on the Intracoastal Waterway.
Property amenities
For the current project, Griffin has purchased the homes that already stand on the property and intends to build them out for an astounding $150-400 million. Reportedly, the property will have guest quarters, a caretaker's home, a massive swimming pool with views of the Atlantic Ocean, and lakeside gardens. The property will be a long-and-lean property with 50,000 square feet in total.
The Architectural Board approved in 2022
The mansion on the north side of his Billionaires' Row estate was approved by the Architectural Board in June 2022. Documents show that ten years ago, Griffin started the process of acquiring this land, contributing at least $450 million in real estate, fees, and teardowns. The home's first occupant will be Griffin's mother, Catherine Gratz Griffin, as reported by the New York Post.
Construction is underway
Reports reveal that Griffin has allocated hundreds of millions to construct his colossal estate, a project predicted to yield an enormous return by industry insiders. Furthermore, experts have pointed out that Florida's policies have boosted property values in the region. Notably, the land area surpasses that of former US President Donald Trump's 20-acre Mar-a-Lago estate, establishing it as the largest property in Palm Beach.
