(New York Post) Palm Beach, Florida, a playground for the rich and famous, is no stranger to opulence.
But it seems that billionaire hedge-fund manager Ken Griffin is taking luxury living to a whole new level.
Griffin, already a prominent figure in the seaside town and a Florida native, is turning heads with his ambitious plans to create the most expensive home not just in America — but on the planet.
The enigmatic financier, known for his vast wealth and astute investments as founder and CEO of the once Chicago-based Citadel, now Miami, has made headlines by acquiring more than 20 acres of prime Palm Beach real estate.
What’s even more astounding is that Griffin, 55, has obliterated the existing homes on this sprawling property, with intentions to spend between a staggering $150 to $400 million on constructing a mega-estate that will be worth an estimated $1 billion upon completion.
Ken Griffin’s massive Palm Beach estate is now considered the most expensive in the world, valued at $1 billion.TNS
Griffin, who knows the wealthy enclave of Palm Beach intimately, is no stranger to grandeur.
Over the years, he has already assembled approximately 27 acres of beachfront real estate, which includes a couple of parcels on the Intracoastal Waterway.
This colossal property is situated just a quarter mile south of former President Donald Trump’s Mar-a-Lago, a stretch of South Ocean Boulevard renowned among locals as “Billionaires’ Row.”
The financier has assembled 27 acres of land in Palm Beach.
Records indicate that Griffin has earmarked hundreds of millions for the construction of his mammoth mansion, expected to be worth that sky-high sum, according to industry insiders.
As one industry insider pointed out, “If he spent nearly half a billion to buy up acres of land in Palm Beach over the last decade and is expected to spend $150 million more to build an entirely new home, that piece of property is worth at least $1 billion now.”
When reached for comment about Griffin now owning the most valuable home in America, a spokesperson for Griffin cited Florida’s policies that have skyrocketed the values of properties in the area.
Griffin has been acquiring Palm Beach property since 2012.MEGA for NY Post
“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,” Zia Ahmed, a spokesperson for Griffin, said.
Griffin unveiled part of his grand vision for a beachfront mansion, which is to be built on a 7½-acre portion of his sprawling ocean-to-lake estate.
With an impressive 50,000 total square feet, including the service basement, the contemporary-style house and guesthouse will be a testament to extravagant living.
The 25-acre plot of land spans across the beach to the lakeside.MEGA for NY Post
This estate’s acreage marks the largest of its kind in Palm Beach, beating out Trump’s Mar-a-Lago estate, which is on almost 20 acres.
Griffin initiated the acquisition of this property 10 years ago, investing no less than $450 million in real estate, fees and tear downs, according to records.
Sources familiar with the project reveal that the residence, on Blossom Way, will initially be used by Griffin’s mother, Catherine Gratz Griffin.
Photos show construction has begun on the project.MEGA for NY Post
The billionaire has even grander designs in the works, as he plans to utilize the entire estate as his retirement home in the future.
In May, Griffin filed an agreement with the county to consolidate all parcels on Blossom Way with his Ocean Boulevard properties, effectively creating a single vast estate, records obtained by The Post show.
The Architectural Board granted approval for a long-and-lean house on the north side of his Billionaires’ Row estate in June 2022.
Griffin plans to build along 1,400 feet of South Florida coastline.MEGA for NY Post
This estate will occupy approximately 8 of the 27 acres Griffin and his companies own off South Ocean Boulevard.
Meanwhile, while renderings of the northern property have been revealed, an application for a property in the southern part of the compound was recently submitted for approval, documents obtained by The Post show.
Construction machinery is already visible at the far end of the lot, once home to several mansions and now part of Griffin’s estate.
The property will take up 8 acres of the 25-acre estate.Stoev Design Group, Courtesy Town Of Palm Beach
Renderings offer a glimpse into the lavish design, featuring an upper event lawn leading to a magnificent swimming pool with windows on both sides that frame mesmerizing views of the Atlantic Ocean.
The grand swimming pool will stretch from the residence to a vast lawn, creating a serene and picturesque oasis.
The estate will also feature several meticulously landscaped gardens.
The home will measure over 50,000 square feet.Stoev Design Group, Courtesy Town Of Palm Beach
Another rendering reveals a caretaker’s cottage.
Griffin’s journey in assembling this opulent oasis was made possible with the assistance of his longtime real estate broker, Lawrence Moens of Lawrence A. Moens Associates.
The saga began in December 2012 when Griffin, through two separate shell companies, acquired four adjacent properties totaling 8 acres on Blossom Way in the Blossom Estate subdivision for a recorded $129.6 million, giving him an astounding 560 feet of oceanfront.
The lawn will have a slew of palm trees surrounding the property.Stoev Design Group, Courtesy Town Of Palm Beach
Today, Griffin, worth an estimated $34.2 billion, now owns a string of properties along Blossom Way, which once held addresses 10 Blossom Way, 20 Blossom Way, 30 Blossom Way, 40 Blossom Way, 50 Blossom Way, and 70 Blossom Way.
In the summer of 2015, a Griffin-controlled company made another remarkable acquisition, purchasing that non-waterfront house and guesthouse at 70 Blossom Way for $15.25 million, which added 1.44 acres to his already vast holdings.
January 2017 witnessed yet another jaw-dropping deal when a Griffin-controlled company forked out a colossal $85 million for an oceanfront mansion at 1290 S. Ocean Blvd., just south of his other estate.
A rendering of the pool and spa.Stoev Design Group, Courtesy Town Of Palm Beach
This purchase expanded his property to 12 contiguous acres, boasting a cool 871 feet of oceanfront.
However, Griffin’s ever-evolving plans didn’t stop there. By the spring of 2018, a transaction shrouded in secrecy added the first lakefront property, boasting 2 acres and 193 feet on the Intracoastal Waterway, to his estate.
Although the exact price remains undisclosed, industry observers estimated that this acquisition cost him as much as $20 million
A view of the floor plan of the estate.Stoev Design Group, Courtesy Town Of Palm Beach
In September 2019, a company linked to Griffin paid $99.13 million for the mansion at 60 Blossom Way, which has since been razed to make way for the new mansion and guesthouse.
Those will boast stone exteriors, and modern, sleek lines.
In late June 2019, a Griffin-linked company paid $104.99 million, briefly setting a Palm Beach sales price record, for an ocean-to-lake estate at 1295 S. Ocean Blvd.