Billionaire Robert F. Smith revealed as buyer of Elin Nordegren’s former North Palm Beach properties

Weiner sold the homes to Smith for more than $48M

Miami /
Nov.November 05, 2020 05:30 PM
Elin Nordegren, Russell Weiner, and Robert F. Smith, with 12520 Seminole Beach Road (Credit: Google Maps)

Elin Nordegren, Russell Weiner, and Robert F. Smith, with 12520 Seminole Beach Road (Credit: Google Maps)

Billionaire Robert F. Smith, who recently agreed to pay a $139 million tax evasion settlement with the Justice Department, is the buyer of two North Palm Beach properties that sold last month for more than $48 million.

Smith, the richest Black person in the U.S., bought the oceanfront mansion at 12520 Seminole Beach Road for $41.8 million and the non-waterfront home across the street at 12395 Banyan Road for $6.4 million, according to the Wall Street Journal.

Forbes pegs his net worth at $5.2 billion.

Rockstar Energy Drink founder Russell Weiner flipped the properties, reaping a 45 percent gain in one month, after he paid nearly $33 million for both in September. Swedish model Elin Nordegren, the ex-wife of golfer Tiger Woods, sold the houses to Weiner.

The oceanfront mansion has 11 bedrooms, 15 bathrooms and three half-baths. It features rooms with retractable glass walls, a roof deck, wine cellar, theater, two kitchens and a gym. Along with a pool, the home has 200 feet of ocean frontage, a putting green and a basketball/pickleball court. A separate guest house includes two separate apartments, each with a kitchen and living room.

Smith, CEO of Vista Equity Partners, also owns a $59 million penthouse at the Getty in Manhattan’s Chelsea District and two luxury homes in Malibu.

Smith settled with the Justice Department after admitting to evading taxes on more than $200 million of funds through an offshore account, withdrawing millions of dollars in untaxed money for personal use, the Journal reported.

Last year, he made headlines when he said he would pay off college debt for the graduating class of Morehouse College in Atlanta. [WSJ]Katherine Kallergis


Related Articles

arrow_forward_ios
830 Brickell and 401 E Las Olas Blvd (Google Maps)
Lease roundup: Thoma Bravo signs major lease in Brickell & more
Lease roundup: Thoma Bravo signs major lease in Brickell & more
W. Allan Jones and 320 Island Road, Palm Beach (Wikipedia Commons, Google Maps)
Converting to cash: Payday lender flips his waterfront Palm Beach home for $42M
Converting to cash: Payday lender flips his waterfront Palm Beach home for $42M
Todd Glaser with 576 Island Drive (Google Maps, Todd Glaser)
Todd Glaser, partners buy waterfront Palm Beach home to renovate, flip
Todd Glaser, partners buy waterfront Palm Beach home to renovate, flip
228 Via Las Brisas and Maximo Haddad. (Compass, Global Industries via YouTube)
Mexican construction tycoon sells Palm Beach mansion for $23M
Mexican construction tycoon sells Palm Beach mansion for $23M
Ed and Jackie Rabin with 505 South County Road, Palm Beach (Patrick McMullan/Getty, Google Maps)
Former Hyatt Hotels president buys Palm Beach home for nearly $6M
Former Hyatt Hotels president buys Palm Beach home for nearly $6M
Clockwise from top left: 1500 West 21st Street in Miami Beach, 259 Pendleton Avenue in Palm Beach, 1221 North Lake Way in Palm Beach, 215 Indian Road in Palm Beach and Todd Glaser (Google Maps)
Todd Glaser buys and sells houses totaling $50M, amid South Florida luxury frenzy
Todd Glaser buys and sells houses totaling $50M, amid South Florida luxury frenzy
Suzanne Frisbie and 456 South Ocean Boulevard, Palm Beach (Frisbie Group)
Frisbie Group sells oceanfront Palm Beach townhome for $26M
Frisbie Group sells oceanfront Palm Beach townhome for $26M
Ava F. Roosevelt (Getty, Google Maps)
Widow of FDR’s grandson sells Palm Beach home
Widow of FDR’s grandson sells Palm Beach 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...