Billionaire Ken Griffin wants to expand his future Palm Beach estate – by 4 acres

Miami /
Aug.August 10, 2016 11:15 AM

Billionaire hedge funder Ken Griffin is building himself a waterfront compound in Palm Beach, a plan that now includes buying out his neighbor’s 4-acre estate.

Acquiring the property at 1290 South Ocean Boulevard would bring his total to 865 feet of beachfront and nearly 13.5 acres. Plans for Griffin’s new estate filed with town hall include the house owned by Virginia homebuilder Paul C. Saville and his wife, Linda J. Saville, the Palm Beach Daily News reported.

Griffin has not yet acquired the Savilles’ property, at least not in county records, and it’s not currently listed for sale. A trust in the couple’s names paid $32 million for the mansion in 2005, which is just south of the properties Griffin already owns. It’s assessed at $56.3 million, the newspaper said.

Last month, Griffin closed on two loans for his Blossom Way properties (20, 30, 40, 50 and 70 Blossom Way) totaling $114 million. He’s paid more than $145 million to collect them over the past four years.

His plans for the assemblage are to build a long single-story house with floor-to-ceiling windows and more than 56,800 square feet of space.

Griffin, who was born in Daytona Beach, is the founder and CEO of Chicago-based Citadel, one of the world’s largest with more than $25 billion in assets under management. He’s currently worth about $7.5 billion. [Palm Beach Daily News] – Katherine Kallergis


Related Articles

arrow_forward_ios
Donald Trump, Eric Trump and Donald Trump Jr with 1125 South Ocean Boulevard (Premier Estate Properties, Getty)
Trump’s Palm Beach estate listed for rent asking $208K a month
Trump’s Palm Beach estate listed for rent asking $208K a month
Another auto dealership magnate rolls into Palm Beach to buy a house for $19M
Another auto dealership magnate rolls into Palm Beach to buy a house for $19M
Another auto dealership magnate rolls into Palm Beach to buy a house for $19M
184 Sunset Avenue in Palm Beach with Benchmark's Jordan Vogel and Aaron Feldman (Apartments, LinkedIn, Getty)
Benchmark drops $17M for historic Palm Beach apartment building
Benchmark drops $17M for historic Palm Beach apartment building
Todd Michael Glaser; 1320 North Lake Way and 576 Island Drive (Todd Michael Glaser, Realtor, iStock)
Todd Glaser, partners flip two waterfront Palm Beach estates for $70M
Todd Glaser, partners flip two waterfront Palm Beach estates for $70M
The property at 102 Jungle Road with Ivana Trump and Tomas Maier (Google Maps, Getty, Wikipedia)
Ivana Trump’s former Palm Beach mansion sells for $73M
Ivana Trump’s former Palm Beach mansion sells for $73M
Todd Michael Glaser
Watch: Todd Michael Glaser on developing dream homes for billionaires
Watch: Todd Michael Glaser on developing dream homes for billionaires
Douglas Elliman's Scott Gordon with 2770 South Ocean Boulevard (Douglas Elliman, Google Maps)
Auto dealership magnate Terry Taylor buys oceanfront Palm Beach condo
Auto dealership magnate Terry Taylor buys oceanfront Palm Beach condo
151 Chilean Avenue in Palm Beach (Realtor.com, iStock)
Billionaire bows out: David “Duke” Reyes, wife, sell Palm Beach home for $21M
Billionaire bows out: David “Duke” Reyes, wife, sell Palm Beach home for $21M
arrow_forward_ios

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

Loading...