Billionaire Bill Gates Purchases Palm Beach Mansion for $8.7 Million in Cash
May 06, 2014 May 06, 2014
After renting homes in Wellington for a total of $1.1 million, Bill Gates, the founder of Microsoft, has become a Palm Beach County landowner. Moreover, he paid for his new home in cold hard cash.
Gates, the richest man in America with a wealth of $67 billion, purchased his home at 3155 Mallet Hill Court for $8.7 million. His property includes 4 acres of pasture, a 7,230 square-foot mansion with four bedrooms, four bathrooms, equestrian training grounds, and two barns with space for 20 horses.
The house was purchased by the secretive Mallet Hill Trust from long time owner and equestrian Linda Juckette.
Bill McCaughan, a partner at the Miami branch of K & L Gates, was one of the trustees involved in the purchase of the Mallet Hill mansion. K & L Gates is a law firm founded by Bill Gates' father, and often represents Microsoft in legal matters. McCaughan was asked if Bill Gates was indeed the buyer, but he refused to confirm it. However, an anonymous neighbor notes that many residents are aware that Gates is indeed the buyer.
Mallet Hill's residents include Michael Bloomberg, the New York City Mayor, Frank McCourt, previous owner of the Los Angeles Dodgers, Sulhail Rizvi, a private equity banker whose firm owns the rights to The Twilight Saga, Stuart Roffman, the owner of the mega-yacht Lion Share, and the newest resident Bill Gates.