Ken Griffin Plans World Record $1B Mega Mansion in Palm Beach
Ken Griffin | Credit: Tribune News Service
The shimmering coastlines of Palm Beach, Florida have long been synonymous with affluence and prestige. But Ken Griffin, the billionaire founder of the globally-renowned Citadel, is poised to redefine extravagance, as reported by The New York Post.
For many, Griffin's name is synonymous with savvy investments and unparalleled wealth. Now, he's on the verge of stamping an indelible mark on luxury real estate with an unparalleled venture. His mission? To construct the world's most expensive residence.
Over the past decade, Griffin, with an unerring eye for value, has strategically purchased over 20 acres of prime Palm Beach terrain. His audacious vision doesn't stop there. The tycoon recently made waves by demolishing the existing estates on this vast expanse. He aims to create a monumental estate that, when finished, is expected to be valued at a staggering $1 billion. Project estimates suggest he's likely to spend between $150 to $400 million in this grand endeavor.
Nestled just a stone's throw away from the iconic Mar-a-Lago—Donald Trump’s well-known abode—Griffin’s emerging estate occupies a prestigious spot on South Ocean Boulevard, dubbed "Billionaires’ Row" by local residents. His plans for this 50,000-square-foot behemoth involve not only a main residence and guest house but also an expansive pool. According to the Post, Griffin has already invested $450 million over a decade to secure the land for this project.
Griffin’s comprehensive acquisition of Palm Beach properties began as far back as 2012. Over the years, his portfolio has expanded to encompass several remarkable estates along the coveted Blossom Way and Ocean Boulevard. A testament to his acquisition prowess was in 2019 when a firm associated with Griffin procured a mansion sprawling over four-and-a-half acres for a whopping $104.99 million, setting a new benchmark for Palm Beach property values.
As for the monumental estate taking shape on Blossom Way? It’s rumored that Griffin's mother, Catherine Gratz Griffin, will be among its first inhabitants. But long-term, Griffin envisions it as the ultimate retreat post-retirement.
Zia Ahmed, Griffin's spokesperson, highlighted the appeal of Palm Beach real estate, attributing its allure to Florida’s growth-friendly and business-centric policies. “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,” Ahmed said.
In the chronicles of Palm Beach, while Mar-a-Lago's sprawling 20-acre estate stands iconic, Griffin's newest venture promises to overshadow even that. With an infusion of hundreds of millions and a vision that embodies the zenith of luxury, Griffin is on a quest not just to make history, but to redefine it.