Billionaire Ken Griffin is raising the bar on luxury living with plans to build the world’s most expensive home in Palm Beach, Florida.
Known for his financial acumen as the founder and chief executive officer of hedge fund Citadel, Griffin is a familiar face in this elite coastal enclave.
Griffin has acquired more than 20 acres of prime real estate in a town famous for its wealth and extravagance.
But he’s not stopping there.
The mogul has demolished the existing structures on the property, planning to spend an eye-watering US$150 million to US$400 million to construct a home estimated to be worth US$1 billion upon completion, according to the New York Post.
This ambition outshines even Mar-a-Lago, Donald Trump’s famed residence, in terms of acreage.
The estate, positioned a mere quarter mile south of Mar-a-Lago on the stretch known as “Billionaires’ Row,” will sit on 27 acres of beachfront property that Griffin has amassed over the years.
The house alone will cover 4645sq m, including a service basement, and will feature contemporary architecture and lavish amenities.
Initial plans suggest a grand swimming pool stretching from the residence to a sprawling lawn, providing a tranquil, picture-perfect setting.
Although the project’s exact cost remains undisclosed, Griffin has allocated hundreds of millions for its construction.
His spokesperson, Zia Ahmed, attributes the soaring property values in South Florida to the region’s pro-growth and pro-business policies.
“Palm Beach real estate is among the most valuable in the world,” she told the New York Post.
The colossal estate will initially serve as a residence for Griffin’s mother, Catherine Gratz Griffin, before ultimately becoming Griffin’s retirement home.
His decade-long, US$450 million investment in acquiring and preparing the land underscores his long-term commitment to this monumental project.
Renderings of the property reveal opulent designs that include intricately landscaped gardens and a caretaker’s cottage.
Large windows framing the Atlantic Ocean give a glimpse into the life of unparalleled luxury that awaits.
This venture marks a milestone not only in Griffin’s real estate endeavours but also sets a new benchmark for high-end properties globally.
Construction is already underway, and the world watches with bated breath as Griffin’s billion-dollar vision comes to life.