American Billionaires Continue to Invest in Real Estate: New York is Not the Only Player on the Field

1:08 pm  |  10.12.2023

Purchasing luxury homes is not just an investment; it’s a status symbol that signifies success and foresight. Jeff Bezos and Ken Griffin are solidifying their positions as major players in the Miami real estate market, and they’re not alone.

Miami: The Emerging Hub of Opulence for Billionaires

This summer, Jeff Bezos, the chairman of Amazon, added a luxurious mansion on Indian Creek to his Miami property portfolio. The locale, known as the “billionaire’s bunker” due to its concentration of high-net-worth residents, further enhances the city’s appeal. Simultaneously, hedge fund manager Ken Griffin set a record by acquiring two beachfront estates on Biscayne Bay for $107 million. These acquisitions underscore the increasing allure of Miami among the global elite. Griffin’s expanding collection now includes residences in Washington, New York, and the Hawaiian island of Maui.

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Ken Griffin: Real Estate Mastery on an Unprecedented Scale

Number of houses: 13

Net worth: $33.2 billion

In the past year, accomplished investor and hedge fund manager Ken Griffin made a strategic move by relocating his corporate headquarters from Chicago to the sunlit landscapes of Florida. This shift is just one facet of his remarkable real estate portfolio.

Griffin divested his holdings in the Waldorf Astoria Chicago hotel complex and a condominium in Park City while actively seeking new acquisitions. With seven houses in Florida already under his ownership, plans for a substantial complex in Palm Beach are underway to accommodate the entrepreneur’s family.

Continuing his record-setting spree in Miami, Griffin’s acquisitions range from a Miami Beach residence on the artificial Star Island to an oceanfront estate in Coconut Grove. Notably, he secured the most expensive home in U.S. history – a penthouse in New York for $238 million.

Griffin’s real estate influence extends beyond the U.S., with ownership of a $122 million townhouse in London, adjacent to Buckingham Palace. This historical residence played witness to pivotal events, including the stay of French leader Charles de Gaulle during World War II.

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Eric Schmidt: Tech Magnate in the Realm of Real Estate

Number of houses: 13

Primary residence: Atherton, California

Net worth: $21.1 billion

In December 2021, former Google CEO Eric Schmidt made headlines with his $65 million acquisition of the Enchanted Hill estate in Beverly Hills, marking another milestone in his expanding real estate ventures.

The 48-hectare property, previously owned by Microsoft co-founder Paul Allen, now stands as the largest undeveloped site in the region after Allen’s demolition two decades ago. Despite Schmidt’s yet-to-be-built residence on this property, his existing properties in Los Angeles and New York radiate opulence and affirm his refined taste.

Schmidt’s holdings include estates in Los Angeles, such as a Holmby Hills mansion acquired from the Hilton family. Reports also suggest his ownership of soundproofed penthouses in New York condominiums.

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Michael Bloomberg: Real Estate Empire and Luxury Haven

Number of houses: 10

Net worth: $96.3 billion

In 2002, Michael Bloomberg, faced with the responsibilities of becoming the Mayor of New York, made a pivotal decision regarding his residence. Opting out of the historic Gracie Mansion, he invested in a five-story townhouse on Manhattan‘s Upper East Side, purchased in 1986 for $3.5 million. Over the decades, Bloomberg conducted extensive restoration work and expanded his property, acquiring all six units of the adjacent building between 2009 and 2022.

This townhouse is just one of Bloomberg’s five residences in New York State. Notably, he owns the historic Ballyshere Estate in Southampton, purchased in 2011 for approximately $20 million. Beyond New York, Bloomberg possesses a London townhouse, once home to Victorian writer George Eliot, and the Westlands Ranch in Colorado, bought in 2020 for $45 million and formerly owned by venture market pioneer Henry Kravis.

Charles Zieger: Master of Real Estate Success

Number of houses: 6

Net worth: $3.5 billion

Charles Zieger, co-founder of Bloomberg and creator of Wall Street’s first terminal software, not only holds a powerful position in the financial industry but also commands a portfolio of luxury real estate.

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In New York State, Charles Zieger owns four houses, including four apartments in the Trump Place Heritage Building complex in the South Riverside neighborhood of Manhattan. These properties reflect the style and luxury befitting a successful entrepreneur.

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In Westport, Connecticut, Charles Zieger has a 460 sq. m. home, purchased in 2001 for $1.5 million. This residence exemplifies comfort and stability in the ownership of a business tycoon.

The billionaire’s 1920s Colonial-style Los Angeles estate, acquired in 2017 for $3.4 million, is currently on the market with a price tag of $3.8 million, reflecting the aesthetics and sophistication of homes owned by Charles Zieger.

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