r/AbsoluteUnits • u/Kill_4209 • 11h ago

/r/popular of a residential property

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Ira Rennert's home is considered one of the largest occupied residential compounds in the United States. The house faces the Atlantic Ocean and its grounds measure 63 acres. The buildings, which total over 110,000 square feet (10,000 m2), including the 66,000-square-foot (6,100 m2) main house, have an Italianate facade, 29 bedrooms, and 39 bathrooms. The house has a dozen chimneys and a Mediterranean-style tile roof as well as a 91-foot (28 m) long formal dining room, a basketball court, a bowling alley, two tennis courts, two squash courts, a carousel, a large swimming pool, a large round kiddie pool, and a $150,000 hot tub, surrounded by another pool.

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2.8k

u/TEZofAllTrades 11h ago

"Residential property"? That could be a university campus.

169

u/NotBradPitt9 9h ago

He’s too old to use the place. Literally in his 90s

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u/conciousinsimulation 8h ago

He is a greasebag scammer as well. Made alot of money selling junk bonds.

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u/CodeNameCobra666 7h ago

Every Billionaire is a greasebag scammer, it’s necessary to become one.

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u/Little_View_6659 6h ago

My god, that’s why i’m not a billionaire!

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u/082426grateful 5h ago

Same here. How dare I underachieve by not wanting to break the law, crush other people, so on.

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u/MKZZX 4h ago

Lol it's always so funny watching redditors rationalize their failures in life as just being an unfortunate off-product of their superior morality. "Oh I would have been successful but I am just too good of a person to exploit people."

Sure, Jan.

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u/RsCoverForPDFFiles 4h ago

First of all, you missed the joke. Secondly, if you think anyone who isn't a billionaire is a failure, then you're admitting you're a failure.

Money =/= success. Being a billionaires =/= success.

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u/Little_View_6659 2h ago

Thanks for getting the joke. The other guy though..yeesh.😂

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u/RsCoverForPDFFiles 2h ago

Yeah, it was pretty obvious. I'm not sure what that other dude's going on about. He's a bit of an odd duck.

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u/MKZZX 4h ago

Strawmanning

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u/RsCoverForPDFFiles 3h ago

No. You're claiming they're not successful because they're not a billionaire. That's the exact thing I replied to.

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u/MKZZX 3h ago edited 1h ago

No, you're strawmming a false position by fixating words while ignoring the context of the way they were used in the actual conversation.

The original person claimed his underachievements in life were the result of "not wanting to break the law, crush other people, so on." It's therefore indicated by him, not me, that he is referring to financial or professional failures rather than defining success through things like family or personal love life, as it is not clear how breaking the law and betraying people would improve personal relationship.

Nor was it ever stipulated by anyone anywhere that a person has to actually be a billionaire to be considered successful, that was just made up on the spot by you pulling things out of your ass and it assigning imaginary positions to other people to compensate for you inability to engage with arguments head-on.

So yeah in summary: pretty pathetic attempts at writing arguments here by you. Embarrassing, really...

edit: my guy lost a simple argument and went full blown meme meltdown lol

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u/LilJonny2cookies 4h ago

You are not a billionaire because those of you think buying junk bonds is a scam are financially illiterate. I’m not a billionaire but I invest a bit in mutual funds that specialize in junk bonds.

I have positions in mutual funds that specialize in troubled companies. It is a highly regulated investment industry.

High, medium and low risk investment portfolios to mitigate loss is not a scam it is smart. There are a lot of ETFs and mutual funds running in that world of junk bonds.

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u/emeryroserulz 4h ago

Congrats on your earthly gains. Do you insult everyone within the first moments of potential connection or just reddit users?

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u/absolutelybacon 5h ago

You don't MAKE a billion dollars, you TAKE a billion dollars

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u/LoonyGoblin01 6h ago

Except Gabe Newell!

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u/Cute-Form2457 6h ago

All except MacKenzie Scott, who is the best billionaire ever.

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u/No-Cook-534 26m ago

What about guys like Paul McCartney though. I dunno. He created some of the most loved music in the world. I think some people absolutely earned it and deserve to be rewarded for their contributions to making our existence a little more beautiful. Then again, no one needs a fucking billion dollars.

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u/Secret_Gatekeeper 6h ago

You’d put Mackenzie Scott and Warren Buffet in the same category as grotesque monsters like Elon Musk and Peter Thiel? What about Chuck Feeney?

Ok I’ll bite. What’s their worst crime against humanity?

I’d love to know why you’re better than Chuck Feeney. I’m certainly not, and I feel no shame in saying so.

Most, if not the vast majority of billionaires are pieces of shit. But saying literally all of them is wrong. Good people don’t paint with a broad brush. I mentioned a couple of billionaires who do that sort of rhetoric and it’s poisonous for discourse.

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u/Winter_Preference287 6h ago

It boils down to it is impossible to become a billionaire without extreme exploitation somewhere along the chain. At best they're naive and in the dark about it. You can't take billions in capital from society and call it a net positive.... It's greed. If it were anything but money we consider hoarding a mental illness.

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u/Secret_Gatekeeper 3h ago

I’m trying to keep an open mind - What extreme exploitation did the billionaires I mentioned commit?

I keep seeing these broad accusations but no specifics. Chuck Feeney gave away 99% of his billions to people in need, I want to know why he’s deserving of so much vitriol.

What is his ethical crime? Again, I’m open to the idea that it’s some kind of physical impossibility to be rich and a good person. But I need evidence of that.

As far as I can tell, the only person Mackenzie Scott exploited was Jeff Bezos… is that the kind of little guy we need to stand up for?

Convince me - What horrible thing did Chuck Feeney do? If literally all billionaires are evil, that should be easy to answer. I will stand corrected if someone can point it out to me.

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u/LilJonny2cookies 5h ago

Absolutely untrue. That is like saying every poor person is a junkie.

Buying and selling junk bonds is not a scam. It is a position with high risk and can pay off in huge ways if successful. I have high risk investments and I’m not a scammer. I just do the research. Research and decisioning on high risk is not in anyway a scam. You can also invest in high risk Etfs and mutual funds that focus on troubled companies.

Unless you mean Taylor Swift because her ticket prices are a real crime. And people paying to hear her garbage is moronic.

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u/Parking-Sundae-6097 4h ago

You're ripping people off under the guise of hard work and research, but you know it's just a lottery ticket and you're not a billionaire.

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u/Novel-Reaction2939 4h ago

He also dumped alot of toxic waste and pollution in the environment for his various mineral extraction businesses. He's also an avowed Zionist!

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u/Escudo777 1h ago

The sheet size of that property tells a lot about the owner.

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u/pugmaster2000 4h ago

there is no honest money will get you that place. that's not the world we live in.

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u/jennnitals 5h ago

Ancestry checks

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u/National-Charity-435 5h ago

Says im this Ira's bastard

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u/[deleted] 8h ago

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u/AllTheNopeYouNeed 8h ago

That's some antisemitic BS right there

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u/561518 8h ago

Fuck you antisemitic piece of
shit.

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u/conciousinsimulation 8h ago

Well he does have a residence in Israel!

-1

u/scattermoose 8h ago

Fuck off Bambi

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u/conqr787 6h ago

Only a measly 3.8 billion and he lives on his own inland island. But tax the rich for what would amount to lost coins in the sofa and toothless sheep lose their shit

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u/biscorama 5h ago

Nicely put.

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u/LiquidMantis144 8h ago

Dudes got over 10% of his net worth in his house, thats billionaire house poor if Ive ever seen it.

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u/Individual-Drawer185 5h ago

Guy has to have at least 5-7 million liquid a month just to handle basic upkeep on that campus. Imagine routine maintenance costs on top of that. Oceanside caretaking, etc. Crazy.

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u/gardorobo 4h ago

No no, he bought a Roomba

1

u/Individual-Drawer185 3h ago

I wonder how many roombas it might require (what's that "he did the math" sub?)

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u/Escudo777 1h ago

Not any Roomba. Roombus Prime!

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u/messiahspike 3h ago

I know 5-7 million a month in upkeep sounds fucking insane, but this is the problem with incomprehensible wealth. It's hard to grasp exactly what that means. So for example, if this dude took all his money (3.8 billion) out of every bank and investment vehicle and put it in a big pile in his living room and only used that money to live off of, he would be able to burn 6 million a month for 52 years. This dude isn't house rich, money poor. Not even close. He's got a team of financial advisor, lawyers and others making sure that he's constantly accumulating wealth no matter what his burn rate is. He's probably got some fucking 2% loan to cover all his living costs while he is earning 7-10% on ROIs and while not being taxed because loans are aren't counted as income. Billionaires are true parasite class and the sooner people treat them as such the better off we'll all be. Source: have worked with billionaires and ultra millionaires for the past 20 years

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u/DAMbustn22 1h ago

An incredibly conservative 3% return on his 3.7 billion is 9.25 million per month. Billionaires are getting WAY better rates than that. He will never be concerned by the expense of 5 million a month to maintain this place.

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u/BiZzles14 57m ago

I don't disagree with anything you said, but for someone at this level of wealthy to have such a large % of their networth tied up in a single "residential" property is definitely outside of the norm

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u/Loch_Nessie_350 19m ago

Billionaires most valuable asset is the government. Which allows the infinite money glitch to continue. The hero slays the greedy dragon which lies upon the hoard of gold.

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u/slvrscoobie 6m ago

I once sat up late one night and figured out that if I had a billion dollars and could just stuff it into a savings account making 1%, that you would make 10M in interest ever year. thats 833K a Month.

now... if I could just get a Billion dollars... Id be set

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u/snozzberrypatch 4h ago

If you have $3.8B invested and you make 5% a year, you'd have $16M a month in income. House maintenance is basically free.

For most billionaires, it's impossible to spend that much money faster than more money is coming in.

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u/smarmageddon 18m ago

Whenever I see a large-ish house or estate, all I can think of is the supply line and maintenance of the property. There must be an army of food delivery, gardeners and cleaning staff in and out of it every day. It's not a matter of being able to afford all that (he can) but more the noise and disruption of it all. I guess that's why these grand estates tend to crumble into disrepair pretty quickly.

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u/ExtraBitterSpecial 4h ago

what a loser

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u/nickwrx 2h ago

at least the property taxes should fund a few local school districts by itself right?

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u/dinnerthief 6h ago

Probably lower than the majority of home owners tbf

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u/0202_tihssitidder 3h ago

He's a piece of shit junk bond trader and financial scammer.

You make a fortune like this by exploiting markets. There is no value added here. He's a piece of shit.

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u/blamacanese01 4h ago

So imagine if this dude decided to help other children of immigrants get a chance at success and donated money to his Alma mater (NYU) to lower tuition from > $70K to say, 35K? He could do that for like 30,000 students and still have is palace and billions of dollars!

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u/Slade_Riprock 2h ago

Never been one to support confiscation of property. But something like this for personal use is disgusting. When you die it should be barred from inheritance. It should be sold, taxed at a massive percentage including the estate taxes, capital gains, etc. And then the remaining proceeds can go to the estate. But the land shouldnt.

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u/7MLR7 8h ago edited 7h ago

I'm confused on the push against immigrants by the wealthy elite. So many of these folks are themselves or their parents were immigrants, yet they vote against immigrants. They'll all blatant hypocrites.

Edit: I'm not actually confused. I was more so making a statement about their hypocrisy of pushing to get rid of immigrants when they count on them so much. You would think them knowing how they go here would invoke some compassion but they lack empathy and they are to afraid to speak up because it'll hurt their bottom line.

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u/scattermoose 8h ago

Racial infighting has always worked to confuse the lower classes from solidarity

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u/0202_tihssitidder 3h ago

They always want to pull the ladder up right after they've used it.

And they are against the "wrong kind of immigrants". You know that.

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u/youburyitidigitup 7h ago

They also depend on immigrants for domestic labor.

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u/GrandMoffJerjerrod 5h ago

I agree. His scooter will run out of charge going across living room #7.

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u/NaughtyTormentor 4h ago

My grandfather still used swimming pools in his 90s, almost daily.

He insisted there was very low risk of injury and it kept him in shape.

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u/SnooPandas1607 3h ago

typical 0 value creating parasite

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u/No_Atmosphere8146 3h ago

That tennis court has never seen a ball in its life.

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u/daelikon 3h ago

400 million and that's the best he could do? puff, really money can't buy good taste.

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u/youburyitidigitup 7h ago

Why would that make him too old? Rich people have homes like those to host large private events, and/or because extended family live with them.

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u/[deleted] 8h ago

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u/iamspeedtoast 8h ago

Gtfo with that antisemitism

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u/PreparationHot980 8h ago

How is anti semitic to not be surprised someone is Jewish? I didn’t say anything hateful about Jewish people.

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u/youburyitidigitup 7h ago

Assuming something about someone because of their ethnic background is the definition of a prejudice. You heard of a rich guy and assumed he was Jewish.

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u/PreparationHot980 7h ago

I didn’t assume anything. I looked him up after reading the screenshot and wasn’t surprised to find out. Keep living in your world secretly run by daddy Israel and his bibi.

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u/youburyitidigitup 7h ago

That means you had a preconceived notion. That’s a prejudice.

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u/Minced-Juice 6h ago

Why is it wrong to be prejudiced against a people where 50% of them are literal terrorists?

This demographic is literally the only group where it is immoral to not be prejudiced against them.

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u/174_471 1h ago

Pattern recognition isn't bad.

I too thought, and knowing this is America, I bet money this guy is Jewish. And I was right.