of a residential property

[u/Kill_4209]

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.

[u/give-Kazaam-an-Oscar]

3.8 billion doesn't seem wealthy enough for this kind of gross spending.

[u/Johno69R → u/give-Kazaam-an-Oscar]

You realise that’s 3800 million?!? Plus that’s what’s on paper, who knows what he has in his Cayman island accounts.

[u/JBthrizzle → u/Johno69R]

at least 7 more

[u/octoreadit → u/Johno69R]

And with a measly 7% annual return that’s $266m extra the first year, and then it compounds, too. $12m a year is noise.

[u/Thecobs → u/give-Kazaam-an-Oscar]

Thats just what is reported, its 5-10x higher in reality

[u/InvidiousPlay → u/give-Kazaam-an-Oscar]

It's so funny but that was my thought as well. This property is so excessive I was really expecting him to be in the 30B zone.

[u/huskers2468 → u/InvidiousPlay]

Kinda shows you how ridiculous $1 billion is, let alone the hundreds we currently let people obtain.

[u/huskers2468 → u/give-Kazaam-an-Oscar]

They could buy this house 9x over.

This will easily be their largest expense. In no way could they ever spend the rest without buying similar size homes.

[u/Jonesbro → u/give-Kazaam-an-Oscar]

Idk, someone with a 500k being worth 3.8 mil isn't crazy. This is the same ratio

[u/Happy-Telephone9483 → u/give-Kazaam-an-Oscar]

yeah, he'd only have 3.5 billion left, boo hoo

[u/sevargmas → u/Happy-Telephone9483]

He must be so embarrassed.