If Chicago’s recent property tax increase has you reeling, spare a thought for billionaire hedge fund CEO Ken Griffin, who’s just been socked with the largest property tax bill in Palm Beach history, according to the Palm Beach Daily News.
Griffin got a $2.23 million tax bill for his 9.3-acre oceanfront Florida estate. It’s the first time a Palm Beach homeowner has had a tax bill of more than $2 million, the Palm Beach Daily News reports.
The recently divorced Griffin — worth an estimated $7.1 billion thanks to the fortune he amassed by building the Citadel hedge fund into a financial powerhouse, according to Forbes — probably won’t lose too much sleep over the bill.
He bought four of the five properties on the estate for nearly $130 million in 2012, the Daily News reports.
Griffin also owns two floors of the Waldorf Astoria building in Chicago and a penthouse at the Park Tower building. He also reportedly paid $200 million for three floors of a New York condo building, $60 million for a Miami Beach condo, and $17 million for a beachfront home in Hawaii.
Griffin has until March 31 to pay his Palm Beach bill. He’ll get a $90,000 deduction if he settles up by the end of November, the Daily News reports.
Find the full story here.
