Over the past decade, Citadel CEO Ken Griffin has invested heavily in prime real estate along South Ocean Boulevard in Palm Beach, Florida, an area locally referred to as "Billionaires' Row." Located just a quarter mile away from former President Donald Trump's Mar-a-Lago estate, Griffin has amassed approximately 27 acres of waterfront property.
The acquisition journey began in December 2012, when Griffin spent $129.6 million through shell companies to obtain four properties on Blossom Way. Since then, the billionaire has purchased additional land, such as a $104.99 million ocean-to-lake estate in 2019, setting a short-lived record for Palm Beach property prices. Griffin's investments, fees, and teardowns over the past decade are recorded to total no less than $450 million.
The Architectural Board granted approval for Griffin's planned 50,000-square-foot estate in June 2022. Initially intended to serve as a residence for his mother, Catherine Gratz Griffin, the expansive property will feature a main house, a guest house, and multiple swimming pools. It will cover 8 acres of his total holdings and offer 1,400 feet of South Florida coastline. The estate design includes a grand swimming pool that stretches from the residence to an open lawn, flanked by meticulously landscaped gardens.
Records reveal that Griffin plans to utilize the entire property as his retirement home eventually. A recent application suggests expansion is on the horizon, as Griffin seeks approval for another project in the southern part of his land.
The property is part of a larger 27-acre portfolio owned by Griffin and his affiliated companies, and machinery for the new construction is already visible on the site. Zia Ahmed, a spokesperson for Griffin, attributed the substantial value of these properties to Florida's pro-growth and pro-business policies.
Griffin has relocated his family to Miami after moving his company from Chicago to Miami last year. However, the Palm Beach estate remains a focal point of his future plans, with ample acreage left for further developments and innovations.
