Ken Griffin, a billionaire from the hedge fund industry, has said that he intends to build the most expensive home in the world, a $1 billion mega-estate located less than a quarter mile south of Donald Trump’s Mar-a-Lago.

The 55-year-old tycoon has lately made headlines by purchasing almost 20 acres of prime Palm Beach real estate in his native state of Florida, adding to his extensive portfolio of luxurious homes and resorts throughout the world. 

But this one is special because, if finished, it will be worth an estimated $1 billion, making it the most expensive mega-mansion in the world. 

Citadel, a Miami-based hedge fund, is led by Griffin, who has purchased the existing homes on the plot and wants to spend between $150 and $400 million on construction. 

His project includes both South Ocean Boulevard and Blossom Way, in the affluent Miami neighborhood known as ‘Billionaire’s Row,’ and about a quarter mile south of former President Trump’s Mar-a-Lago.

According to the New York Post, there will be a caretaker’s cottage, guest quarters, a lakeside garden, a massive swimming pool overlooking the ocean, and a luxury spa.  

Photos taken from above show that work has begun on the massive project, while sketches of the finished estate give an idea of Griffin’s design goals. 

Zia Ahmed, spokesman for the 38th richest man in the world, claims that the state of Florida’s housing rules are the driving force behind the state’s dramatic increase in property values. 

Ahmed told the Post that “the vast majority of the properties Ken owns are in South Florida.” 

Because of the state’s pro-growth and pro-business policies, Florida residents have helped make Palm Beach property among of the most expensive in the world.

Lawrence Moens, of Lawrence A. Moens Associates, has been Griffin’s real estate broker for quite some time, and he was instrumental in facilitating this purchase. 

Including his Palm Beach residence, Republican donor Griffin’s current real estate portfolio is worth over $600 million. It includes condos in Manhattan and Chicago as well as a historic mansion in London.

The University of Chicago, the Ann & Robert Lurie Children’s Hospital, and the American Museum of Natural History are just a few of the many non-profits that have benefited from his generous giving, which, according to Bloomberg, totals more than $600 million.

Griffin has contributed almost $500 million to Harvard in the form of scholarships, making his donation the greatest in the university’s history.

He recently made headlines for his efforts to get Penny Pritzker, the university’s board chair, to publicly defend Israel after the Hamas attack.  

His request was made before any official response had been made by the university administration to a letter signed by more than 30 student organizations blaming Israel for the attacks.

In 2019, he paid the all-time record price of $238 million for a penthouse on Central Park South in New York City.

220 Central Park South, a residential skyscraper that was under construction and is now finished, contains 20 stories.

Griffin’s purchase contract for the penthouse was accepted in 2015, but real estate professionals say transactions of this kind often take years to finalize.

At 950 feet in height, the structure is among New York City’s highest.