Bill Gates buys Florida equestrian estate for $8.7 million in cash

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Click on a photo to see more pictures of Bill Gates' new home. (Source: Wikipedia Commons)

Click on a photo to see more pictures of Bill Gates' new home. (Source: Wikipedia Commons)

Seattle-based Microsoft founder Bill Gates — and second richest man in the world — remarkably, doesn’t own an excess of properties. Previously, when his horse-loving daughter competed in Florida, the multibillionaire rented homes for his family rather than buying. (Click here or on a photo to see more pictures of his new estate.)

Not any longer. According to property records as well as South Florida’s Gossip Extra, Gates now owns a place in Wellington, FL, paying $8.7 million in cash. The Mediterranean-style residence is vastly different and much smaller than Gates’ high-tech and modern compound spanning over 5 acres with 50,050 square feet of living space on Lake Washington, about 8 miles east of Seattle.

The home Gates just purchased in Wellington is reportedly a residence he and his family rented last year in January while his teenage daughter competed in the Winter Equestrian Festival. Built in 2010, the estate has 4 beds and 4 baths with a 7,234-square-foot, open floor plan. Horse-friendly features like a 20-stall barn and show-jumping arena were likely part of Gates’ decision to buy the home.

(Click here or on a photo to see more pictures of his new estate.)

Gates isn’t the only business man buying in Wellington. New York City Mayor and Bloomberg Founder Michael Bloomberg has a home there as well as the former owner of the L.A. Dodgers, Frank McCourt.

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Erika Riggsa real estate writer for Zillow Blog, covers celebrity real estate, unusual properties and home design trends. Read more of her work here.


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