Bill Gates to buy out Wellington neighbors

Miami /
Mar.March 25, 2016 12:00 PM

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


Related Articles

arrow_forward_ios
Joel L. Altman, chairman and co-chief executive officer; Seth M. Wise, co-chief executive officer; and rendering of the Altís Blue Lake apartment community being developed in Palm Beach County, near Wellington and Lake Worth Beach (Altman Companies)
Altman pays $14M for golf course development site near Lake Worth Beach
Altman pays $14M for golf course development site near Lake Worth Beach
Jusuf Nurkić and a rendering of E11even (Getty, Seth Browarnik/Worldredeye.com)
“Bosnian Beast” Jusuf Nurkić enters Miami Heat turf with penthouse purchase
“Bosnian Beast” Jusuf Nurkić enters Miami Heat turf with penthouse purchase
Actress Sela Ann Ward and husband sell One Thousand Museum condo in Miami for $6M (1000 Museum, Getty Images, iStock, Illustration by Kevin Cifuentes for The Real Deal)
Emmy Award-winning actress Sela Ward and husband sell One Thousand Museum condo in Miami for $6M
Emmy Award-winning actress Sela Ward and husband sell One Thousand Museum condo in Miami for $6M
Supermodel Adriana Lima parts with Miami-area waterfront estate for $40M (Google Maps, Getty Images)
Supermodel Adriana Lima parts with Miami-area waterfront estate for $40M
Supermodel Adriana Lima parts with Miami-area waterfront estate for $40M
Family of Real Housewife’s ex-husband buys South Beach retail building for $7M
Family of Real Housewife’s ex-husband buys South Beach retail building for $7M
Family of Real Housewife’s ex-husband buys South Beach retail building for $7M
Logan and Jake Paul (Photo by Seth Browarnik/Worldredeye.com)
Jake and Logan Paul to buy Miami penthouses asking $21M each
Jake and Logan Paul to buy Miami penthouses asking $21M each
2520 Cypress Island Court (Realtor)
IT services company founder and horse lover buys Wellington spec home for $8M
IT services company founder and horse lover buys Wellington spec home for $8M
Ex-Miami Heat player Meyers Leonard sells waterfront Bay Point home
Ex-Miami Heat player Meyers Leonard sells waterfront Bay Point home
Ex-Miami Heat player Meyers Leonard sells waterfront Bay Point home
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...