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BillionaireĀ Ken GriffinĀ is planning to build the world's most expensive home in Palm Beach, Florida. Griffin, the founder and CEO of the hedge fund Citadel, is planning to spend $150 to $400 million to turn roughly 27 acres along the Atlantic OceanĀ into a mega-estate worth at least $1 billion, according to theĀ New York Post.
That would make it the most expensive home in the world.
Griffin has already demolished the houses that were previously on the properties he acquired and is now preparing toĀ start construction on the 50,000-square-foot beachfront mansion.
The mansion will be built on roughly 7.5 acres of the property and will include a service basement and guesthouse. Griffin's mother is planning to live in the house once it is finished.
GriffinĀ has not unveiled the plans for the rest of the property, which is just a quarter-mile down the street fromĀ Donald Trump'sĀ Mar-a-Lago estate.
"If he spent nearly half a billion to buy up acres of land in Palm Beach over the last decade and is expected to spend $150 million more to build an entirely new home, that piece of property is worth at least $1 billion now,"Ā an industry insider told theĀ New York Post.