Bill Gates to buy out Wellington neighbors
What do you get for a man who has everything? A whole street of Palm Beach County’s horse country, of course.
Microsoft founder Bill Gates reportedly just closed on a $13.5 million Wellington home next to his ranch, and has plans to buy much more than that in near future.
The four-acre property at 3060 Mallet Hill Court was sold by local developer Stuart Roffman, GossipExtra reported. It has a 7,000-square-foot Spanish-style home and its own horse barn.
Gates already owns the neighboring 4.5-acre ranch at 3155 Mallet Hill Court, the gossip column reported, which boasts its own 12,864-square-foot mansion. He bought that home for $8.7 million three years ago via a trust managed by attorney William McCaughan, who works for law firm K&L Gates — which was merged from a law firm Bill Gates’ father co-founded.
This deal brings Gates’ holdings on the tiny street up to roughly 8.6 acres. But according to sources cited by GossipExtra, the billionaire isn’t stopping there. He’s either in negotiations or in contract to buy four more parcels on the street, which would make him Mallet Hill Court’s sole property owner, for a total of nearly 20 acres.
Three of those parcels are vacant lots measuring a little over an acre, while the fourth is a palatial ranch owned by James Kelly, Stephanie Kelly and Constance Grasso, according to county records.
So why would Gates want to buy out the whole street? Privacy concerns, a source told GossipExtra. The tech magnate beefed up security on the street when he purchased the first home, but the neighbors often hold social gatherings or train with horses. [GossipExtra] — Sean Stewart-Muniz