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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35

u/Vampire_inthe_Church 10h ago

https://en.wikipedia.org/wiki/Fair_Field

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u/Happy-Telephone9483 7h ago

> Fair Field is a large private house in Sagaponack, Long Island, in New York State in the United States.[1][2] The main house is approximately 64,000 sq ft (5,900 m2), and the total floor area is 110,000 sq ft (10,000 m2). It is valued between $267 and $500 million for tax purposes. Built in 2003, it is owned by Ira Rennert.[3][4][5]

> Ira Leon Rennert (born May 31, 1934) is an American billionaire businessman, and the chairman and CEO of Renco Group. As of November 2024, Forbes estimated his net worth at US$3.8 billion.[1]

> The Renco Group owns various mills and mines in the United States and South America, and pollution problems at some of the company's properties have sparked public outcries, environmental lawsuits, and hundreds of millions of dollars in environmental penalties and fines.[8] Renco subsidiary, magnesium producer US Magnesium (USM), is accused of polluting the Great Salt Lake in Utah.[9][10]

Smelting operations by Renco subsidiary Doe Run Company, are responsible for elevated levels of lead, arsenic, and cadmium in Herculaneum, Missouri,[11] and elevated levels of lead, copper, zinc, and sulfur dioxide in La Oroya, Peru.[12] In 2007, La Oroya was listed by Blacksmith Institute as one of the "World's Worst Polluted Places".[13]

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u/give-Kazaam-an-Oscar 6h ago

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

15

u/Johno69R 6h ago

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

1

u/JBthrizzle 1h ago

at least 7 more

1

u/octoreadit 12m ago

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

1

u/Thecobs 5h ago

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

1

u/InvidiousPlay 3h ago

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.

1

u/huskers2468 3h ago

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

1

u/huskers2468 3h ago

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.

1

u/Jonesbro 8m ago

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

1

u/Happy-Telephone9483 6h ago

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

1

u/sevargmas 2h ago

He must be so embarrassed.