EXCLUSIVE: Bill Gates Buys Palm Beach Area House

Bill Gates' new rental in Wellington

WIth the $8.7 million-purchase of this mansion in Wellington, billionaire Bill Gates is now officially a Palm Beach County landowner (Click on the photo for the tour)

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After renting homes in Wellington for a total $1.1 million for two equestrian seasons, Microsoft founder Bill Gates finally became a Palm Beach County landowner!

Gates, the richest American, plunked down a paltry $8.7 million on a house with about 4 acres of pasture in the fancy Mallet Hill section of Wellington.

Of course Gates, 57, who may have as much as $67 billion to his name, paid with cold, hard cash.

Click here for the grand tour of Bill Gates’ new digs, plus those of dozens of local celebs

Property records show the house at 3155 Mallet Hill Court was bought by a secretive trust — the Mallet Hill Trust — from longtime owner and equestrian Linda Juckette.

One of the trustee is Bill McCaughan, a partner at the Miami branch of the Seattle-based K & L Gates. The law firm was founded by Gates’ dad and often represents Microsoft in legal matters.

“I have no comment about this purchase,” McCaughan said when asked if Bill Gates was indeed the buyer.

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One neighbor who asked to remain anonymous, however, tells Gossip Extra residents are fully aware that Gates is the buyer after the homeowners association was approached to replace the enclave’s unmanned gate to a gate guarded by a worker 24/7.

Gates, wife Melinda and their family rented the same house for four months in January for $500,000, Gossip Extra reported then.

It was their second winter in Wellington, where teenage daughter Jennifer is training to become a world-class show jumping rider. She has competed in the Winter Equestrian Festival.

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The property, meanwhile, boasts a 7,230-square-foot main house with four bedrooms and bathrooms. But it has show jumping training grounds and two barns with space for 20 horses.

With just 13 homes, Mallet Hill is becoming quite the hangout.

Gates’ neighbors include: New York City Mayor Michael Bloomberg; new arrival Frank McCourt (as first reported by Gossip Extra), who recently sold MLB’s Los Angeles Dodgers for $2.1 billion; Sulhail Rizvi, a private equity banker whose firm owns the rights to The Twilight Saga; and man-about-town Stuart Roffman, the entrepreneur owner of mega-yacht Lion Share.

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Comments

  1. Mark S Fraser says

    If Bill Gates has a net worth of $67 billion, and the house cost $8.7 million, then his extravagance was 0.00013% of his net worth … how is this a story?!?!? Law of large numbers people … some just can’t wrap their brain around it?!?! It is equivalent to my $16 purchase of a twelve pack for the barbecue this weekend!!!

  2. Mark S Fraser says

    If Bill Gates has a net worth of $67 billion, and the house cost $8.7 million, then his extravagance was 0.00013% of his net worth … how is this a story?!?!? Law of large numbers people … some just can’t wrap their brain around it?!?! It is equivalent to my $16 purchase of a twelve pack for the barbecue this weekend or my tab for lunch!!!