Ken Griffin pays whopping $85M for Palm Beach property
January 15th, 2017
Chicago billionaire philanthropist Ken Griffin has paid $85 million for an oceanfront estate in Palm Beach, Fla., that neighbors property he already owns there.
It’s the second-highest-dollar single real estate transaction ever, according to the Palm Beach Daily News. First was a 2008 deal by President-elect Donald Trump, who sold a renovated mansion in the area for a $95 million.
Griffin, the founder of the Chicago-based hedge fund company Citadel and the market-maker Citadel Securities, plans to build a massive estate. The vacation home will straddle the two properties he now owns and will be designed by San Francisco-based architect Ugo Sap.
The Daily News says Griffin now owns more than 12 acres of contiguous land with about 871 feet of oceanfront. The tab for all that property: $229.85 million.