Bill Gates Spends Millions to Buy More Privacy by Purhasing More Property

May 10, 2016

 

Microsoft billionaire Bill Gates has purchased more property on the street of his seasonal residence in Wellington.

 

 

As first reported by GossipExtra, Gates picked up the vacant lots at 3128 and 3162 Mallet Hill Court in April and the home at 13715 Quarter Horse Trail in May. Both deeds were issued to a trust in the name of attorney Robert Buote, who is well known to represent Gates in his Wellington transactions.

 

In fact, the same Buote-managed Wellington Trust paid $13.5 million in March for 3060 Mallet Hill Court in a deal connected to Gates by multiple media outlets.

 

In the latest deals, PBP Investments, managed by Daniel M. Morales, sold 2.6 vacant acres in two lots for $4.97 million to Gates' trust. The property last traded for $1.5 million in 2013.

 

Then James P. Kelley, Stephanie B. Kelley and Constance L. Grasso sold the 12,865-square-foot home on 5.3 acres on the corner of Quarter Horse Trail and Mallet Hill Court for $8.7 million to Gates’ trust. It last sold for $3.375 million in 2010.

 

The only site on the street that Gates' trust doesn't own is the vacant lot at 3094 Mallet Hill Court.

 

Gates landed in Wellington in 2013 when his trust paid $8.7 million for the 12,864-square-foot home on a 4.5-acre site at 3155 Mallet Hill Court. According to GossipExtra, he’s buying the neighboring property because he wants more privacy.

 

With a net worth of over $70 billion, Gates can afford a lot of privacy! 

 

Sources:  Wealth X, South Florida Business Journal Photo:  Getty Images, mypalmbeachpost.blog

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