When it comes to South Florida real estate, Bill Gates seems to be impersonating Pacman.
This spring, the world’s richest man has been gobbling up land around his Wellington ranch, and he won’t stop until he owns the entire street.
Through the Miami branch of K&L Gates, the law firm started by Gates’ dad, the billionaire 77 times over just bought two empty lots in South Florida’s horse country from a company owned by Miami investor Daniel Morales for a total $4.97 million.
Gates now owns four of the six properties on Mallet Hill Court, a private street of ranches and equestrian training grounds that wasn’t private enough for the founder of Microsoft when he first moved there three years ago.
In total this spring, Gates spent $18.5 million cash to add three properties to the ranch he bought in 2013 for $8.7 million, according to Palm Beach County records.
He now owns 15 acres and he has 6.3 acres to buy to complete his land puzzle.
Why was Gates so interested in South Florida?
His and wife Melinda’s daughter, Jennifer, has been training and competing in show jumping in Wellington’s Winter Equestrian Festival.
“It’s well known Bill didn’t like the constant traffic of trucks loading up and dropping off horses on all the properties and the occasional party,” said Stuart Roffman, a neighbor whose five-acre lot with a 7,000-square-foot house and a brand-new horse barn adjacent was sold to Gates for $13.5 million in March.
Gates paid a premium for his latest purchases of two vacant lots: Morales bought them for a total $3 million two years ago!
Signs that Gates was taking over appeared soon after the philanthropist bought his first property. He immediately hired off-duty law enforcement officers to patrol the street on foot 24/7.
Gates’ attorneys did not respond to requests for comment.
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