Florida man is in the process of building the most expensive home on the planet

Watching home construction shows like Grand Designs, or real estate shows like Selling Sunset, is more than enough to give anyone home envy.

But one Florida man is taking things to the next level with his plans to build a $1 billion mega-estate and the most expensive home on the planet.

Billionaire hedge-fund manager Ken Griffin has taken the word “luxury” and absolutely run with it, with his plans for a plot of land in Palm Beach, Florida.

Griffin is the founder and CEO of Citadel and, thanks to his obscene amount of wealth, has acquired 27 acres of real estate in Florida’s playground for the rich.

For his grand plans to work, Griffin has demolished the homes that stood on the piece of land and now intends to invest anywhere from $150 to $400 million to build a mega-estate that will be worth around £1 billion when it’s done.

The billionaire has big plans for Palm BeachiStock

Over the past ten years, Griffin has gradually acquired several beachfront properties in the wealthy enclave, with some located on the waterfront of the Intracoastal Waterway.

Records suggest hundreds of millions of dollars have been ring-fenced by Griffin for the construction of his massive estate.

An industry insider explained to the New York Post: “If he spent nearly half a billion to buy up acres of land in Palm Beach over the last decade and is expected to spend $150 million more to build an entirely new home, that piece of property is worth at least $1 billion now.”

Part of Griffin’s plans include a beachfront mansion and guest house, totalling 50,000 square feet, that will be built on a 7.5-acre plot of his huge estate.

With 27 acres to work with, Griffin’s property is larger than Donald Trump’s infamous Mar-a-Lago estate in Palm Beach which is less than 20 acres.

Sign up to our free Indy100 weekly newsletter

Have your say in our news democracy. Click the upvote icon at the top of the page to help raise this article through the indy100 rankings.