Explore ‘Billionaire’s Beach’: Home to 58 Billionaires, Including Trump & Griffin
Florida has emerged as a haven for the wealthiest individuals, particularly in an exclusive area known as “Billionaire’s Beach.” This luxurious stretch, situated in Palm Beach, is home to approximately 67 billionaires, including notable figures like Ken Griffin and Donald Trump.
Welcome to “Billionaire’s Beach”
Palm Beach attracts ultra-rich individuals with its stunning ocean views, lavish Mediterranean-style mansions, and high-end shopping comparable to Rodeo Drive. A significant percentage of these affluent residents own properties along South Ocean Boulevard, often referred to as “Billionaire’s Row.”
Exclusive Real Estate Market
The real estate market in Palm Beach is staggering, with prices soaring to unprecedented levels. Here are some notable properties:
- A property listed for $51.4 million.
- An additional listing priced at $37.7 million.
- A significant 8-bedroom, 15-bathroom home, available for $79.5 million.
In 2023, hedge fund magnate Ken Griffin, worth $48.3 billion, announced plans to construct a jaw-dropping $1 billion property in the area. He recently acquired about 20 acres of prime land and intends to invest between $150 million to $400 million on this ambitious project. The site is conveniently located just a quarter mile from Trump’s renowned 126-room Mar-a-Lago estate.
Wealthy Residents of Palm Beach
| Name | Net Worth (2024) |
|---|---|
| Thomas Peterffy | $87.6 billion |
| Julia Koch and family | $79.8 billion |
| Stephen Schwarzman | $55.6 billion |
| Kenneth Griffin | $48.3 billion |
| Abigail Johnson | $46.6 billion |
| Thomas Frist Jr. | $40.9 billion |
| Dan Gilbert | $40.8 billion |
| Gina Rinehart | $39.1 billion |
| David Tepper | $23.4 billion |
| Henry Kravis | $19.3 billion |
The collective net worth of Palm Beach’s wealthiest residents is estimated to be around $494.7 billion, according to data from Forbes, released in 2024.
Appeal of Palm Beach
Several factors contribute to Palm Beach’s allure for billionaires. The area offers a temperate climate, private beaches, and breathtaking views. Furthermore, Florida’s absence of income tax enhances its attractiveness, allowing residents to retain more of their wealth.
Beyond financial incentives, owning property in Palm Beach is also about social status. Living alongside ultra-wealthy neighbors, such as Julia Koch and Stephen Schwarzman, provides an exclusive social landscape.
In 2022, fashion designer Tom Ford purchased a home for $51 million following the successful sale of his brand to Estée Lauder for $2.8 billion. The trend of affluent home-buying continued in 2023, with 84 individuals acquiring properties exceeding $10 million in Palm Beach.
For those seeking even more luxury, a short drive to Manalapan reveals further opulence, where Oracle co-founder Larry Ellison made headlines for buying a 16-acre estate for $173 million, setting a Florida record.
Palm Beach exemplifies the convergence of wealth, luxury, and exclusivity, making it a pinnacle destination for billionaires in the United States.
