Have you ever wondered what it feels like to have so much wealth that you can purchase a property worth over $100 million and then just demolish it? Well, William Lauder, the billionaire executive chair of Estee Lauder, seems to know the answer. According to Yahoo Finance and USA Today, Lauder is currently tearing down the Palm Beach, Florida estate that was once occupied by right-wing talk radio host Rush Limbaugh. Lauder purchased the waterfront mansion, situated on nearly 3 acres, for a staggering $155 million in March.
The demolition process has already begun at the property located at 1495 N. Ocean Blvd., which Lauder acquired from Limbaugh’s widow. This is not the first time Lauder has decided to bulldoze his residential purchases: He previously demolished homes on two other Palm Beach lots and is currently offering the combined parcels for sale at a price of $200 million, as reported by the Wall Street Journal earlier this year. Limbaugh’s former two-story, five-bedroom mansion, built in 1992, spanned almost 22,000 square feet and included two smaller residences on the property.
Although no official blueprints have been submitted to local authorities, rumors suggest that Lauder has plans to construct a custom home on the land. Interestingly, Lauder is not the only billionaire who has recently chosen to demolish multi-million dollar properties. Last week, Houston Astros owner Jim Crane tore down a historic mansion worth $24 million in Houston that had fallen into disrepair and decay, according to Chron.com. It seems like the trend of tearing down lavish homes is on the rise among the super-wealthy.
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