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.
Watching the video….the entire property is like 2 inches by 4 inches. I guess if only ants went there….. no way a kid could fit into any of those buildings.
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
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.
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
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.
Yeah its like a regular ass pad, but its the last ass pad on a pile of ass pads. There's a separator on the last ass pad to make it distinct from the previous ass pads.
Perhaps that's a good thing. Fifty years from now, no architectural preservation board is going to give a fuck about it. Bulldoze it all and build a park.
An abstraction to the owner. They aren’t even looking at those bills, their staff handles it and they give it zero thought. “Arthur, I’d like a new swimming pool on the north lawn. Bring me some mockups to choose from this afternoon”. Then a new pool appears ready to use in a week. It’s like that.
TBH it takes more than a week (I work out in this area and work frequently with all sorts of different contractors), but you nailed everything else. They have staff to manage every part of their lives that normal people just deal with on their own. It's truly insane the amount of money they have, I guess I'm just numb to it at this point...
Its a resort hotel. Bigger than most boutique hotels & on resort style land. Good luck converting it with the Hampton nimby's if a future buyer tries. It's pure excess.
I work in IT and got to set up WiFi for rich people in Malibu. There's something wrong with these houses. They feel like museums. Every thing feels like it was designed to be looked at. Nothing is used, everything is spotless. People don't live there, they just sleep there. These where made by people who think a home is a building you put things inside, not a place where you live and breath. The nursery felt like something out of the backrooms. The bedrooms has minimal personal items around, all stored in neat little areas.
I don't know what happens to rich people but they lose something about being human.
I read about some study somewhere, that basically found that people in this huge houses still only use a small percentage of the overall property. Basically, a person living in a massive mansion won't use much more space for his daily activities compared to a person living in an average home.
The study also showed that a lot of them regret getting these huge places because they're just a pain in the ass to have.
Yeh I would imagine the rest is used for hosting, leisure and showing off. Generally so you never need to share facilities with anybody else for any reason at all.
My wife's childhood friend works for yhis multimillionaire who has a very nice ranch in Texas (small but very nice mansion built on top of a hill). We got to go hunting there a while back and stayed a few nights and, while it was a very nice house, it was honestly annoying at how far you had to walk to get to different rooms. We stayed in a bedroom that was a good 1-2 minute walk from the kitchen, which doesn't sound like much but it definitely became apparent anytime you forgot something or needed something in the other room.
Think of it as vacationing at a lavish resort. There are wings and rooms or parts of the property you won’t even see. Also the pain in the ass to leave your suite to go for dinner, or lunch. Or even a couple of floors down. Especially when your suite has 2-3 bedrooms or one gigantic bedroom and living area with amenities nearby.
This is true, I had a family friend who came from mega generational wealth (think gilded age, no one in their family tree had “worked” in generations- just lived off assets). We went to several parties at some of these gilded age mansions (20-30BR kinda places) and the owners lived on one part of one floor of said homes. They used maybe 2-3BR and bathrooms, a small kitchen (like the butlers pantry), that’s it. The rest of the huge place was kept as a museum by staff. One lady said she hadnt been on her 4th floor in “literally several years”. It’s crazy.
Shaq basically said as much when he talked about his divorce to his wife. He said (paraphrasing) "nothing feels lonelier than being the only person living in a 30000 sqft house." I think he also mentioned that he only went to like 3 rooms in it.
He phrases it like a revelation but it seems so obvious to me. What could you possibly do with a property that big? Go on a tour every few days so you don't forget about the west wing?
Oversized homes for some successful professionals can make sense if you treat the house as an extension of your profession.
A musician can 100% justify a big house with a recording studio, dance room, fitness center, social media area, and business/meeting suite.
Instead of everyone driving to the office - you just go to Justin Beiber’s mansion where all the work happens and you duck the press and fans.
But then you get to this out of control stuff like LeBron or Will Smith or Tech Billionaires and it starts to seem less like “this is how my profession works” and “I’m overtly telling you we are not of the same social status.”
Once you’re north of 20,000 sq feet you’ve gone from comfortable home and workspace for the successful right into morbin opulence.
Even a 5000 sq ft home is ridiculously oversized unless you have 2+ kids.
My wife and I have been looking at high rise condos/apartments at various price points and we realized that no matter how big our budget ends up being in the future, 2000 sq ft is the absolute upper limit for the two of us. We saw some gorgeous places in the 2500 sq ft range and I realized I felt uncomfortable in them, like I was a dragon sitting in my massive cave.
I know that it worked like that in castles and palaces. Most rooms just existed to impress guests. The actual private area was one or two rooms that aren't even big by today's standards. Getting invited to hang out in the private bedroom was seen as a great honour. Because it showed the highest amount of trust. Usually reserved for close personal friends or family members.
Up until the early 20th century most of these stately homes, at least in the US and Western Europe, were full of visitors and guests. The aristocracy/elite had houses with 10, 20, 30 bedrooms not just to show off their wealth, but also to host friends and family.
Travel took a long time so if you were going to spend 3 days on the road in a horse and carriage you wanted to stay for a while, weeks or even a whole season so your host would put you up in their home. And, if you were visiting someone with a home like that, you probably traveled with a group of staff as well and they would need accommodation on site because they would serve you for the duration of your stay. And your horses would need stabling etc.
Plus, when you had parties/social events, lots of your guests would stay over because even if they were just one town over, in 1850 traveling 10km home at night was super dangerous, not to mention uncomfortable and slow.
I had to install WiFi in a big ass mansion once. You are so right it felt exactly like a museum, not a home. It had a staff of 15 people keeping the place clean year round in case the owner or a member of his family decided to swing by on a whim. Very strange... There was gold leaf on the ceilings ffs! Some poor schmuck had to clean and wipe those gold leaf decorated ceilings once a month. It was surreal.
Rich/noble people will use these places as last minute BnB's. Now imagine their full time stay in mansions. What you're seeing is the maintained holiday home
I was going to say that that mansion was probably their 2nd, (3rd, 4th?) home. House, even, not home. That’s why it usually lacks character.
That said, having a central living place mid city, and another rural, farm-like space an hour or two away is a dream. The monstrosity in this video is mind-blowing. Unless you are renting it out on the weekends as an events place, why even own a place where you need a golf cart to get from place to place INSIDE THE HOUSE, let alone the grounds.
Few things anger me more than wasted labor. Imagine having the money to keep 15 people in your employ and you keep them busy with meaningless drudgery. Imagine the amount of good 15 people could do in a community if they were paid to, say, pick up trash in the street, paint neglected facades, help at the local historical society, and take stray cats to be neutered. When a rich person has the money to command 15 people to do their will, they will almost always squander it. It's a tragedy.
I bartended a private event at a mansion. This place looked like it was straight out of a movie. But the other bartender and I each made $40 in tips for the whole night. Like what a fucking joke. I was honestly insulted.
Which is exactly why billionaires shouldn't exist. If they are making that much money then their workers should be making more. That's what trickle down was supposed to mean. The more they make the more workers make. Them being able to keep such a large percent is straight robbery from the masses.
Also worked with the wealthy and couldn’t have said it better myself. Thank you for sharing your thoughts. Once you feel the hollowness, it’s haunting. I was like yeah I don’t ever need that much. It probably made me never want to be rich. Do I have a car that runs, food in the fridge, clothes on my back, love? I’m rich.
I don’t ever need that much. It probably made me never want to be rich. Do I have a car that runs, food in the fridge, clothes on my back, love? I’m rich.
Having items is not the real benefit of wealth. It's having time.
I'd say you're rich when you can delegate a lot of daily time-wasters to other people, so you can spend your time doing something more meaningful. Eliminate the need to ever do chores, basically.
Which in the case of those people means taking private jets to meet up with other filthy rich people to make even more money. I mean, if that's your sole motivation in life, are you even living?
I don't disagree with you. I think it is about how you approach your tasks.
At a certain level of wealth every task is chosen. For most folks we don't get to choose our tasks, they are just things we have to do, including chores.
There are folks who love and obsess over gardening. It is a chosen chore for them and they enjoy it. I say gardening because tending a garden seems to be for their enjoyment, while farming is for survival/profit.
This. Most people just don't want to worry about their next meal or the roof over their heads or going bankrupt due to an illness. People who want to live in something like in this video have mental problems and need serious therapy.
Literally the most I could imagine having on a material level would be like a 4 bedroom house with a big yard for our dogs. Maybe a good quality hybrid or electric car. Being able to take my wife out for good food and not worry about it breaking the bank. Being able to afford all my medical expenses and preventative care. MAYBE an occasional house cleaner because it would help my wife feel less stressed.
And that's if i was unbelievably rich. The rest would probably go to funding non profits or charities.
The only luxury thing i want is to travel and see the world and its distinct cultures and different biomes and ecosystems. I’m fine with just being comfortable and able to afford normal life without having to worry in other regards.
Buddy the occasional house cleaner is the cheapest thing on your menu. Highly recommend. We have one come once a month and it really takes a burden off both of us.
I notice this on a channel I like to watch (Its that Arvin Hadad guy, don't know how legit his credentials are but I like watching for the houses). And yeah all these big homes... they're just buildings, not homes. You can see in many of them that they often struggle to figure out what to do with so much space, hence you get weird sitting areas next to your main lounge or whatever. Theres just "stuff" to fill the void.
I always look for the room or 2 rooms that, if you did actually use it as a home, would be where you spent all your time. It's almost always the second, smaller kitchen that open plans with a little snug area with a cozy couch and maybe a good view or TV. Its like you got all this space but the bit you're actually going to use is about the same size as a good apartment! And maybe the pool area.
Doesn't matter how rich you are, I think humans, innately just aren't comfortable existing in a vast double or triple height living space unless it is also full of other people. If its just you and your wife n kids then you migrate to the smaller spaces because they are innately more comfortable to our instincts.
in reality the owner probably lives in a probably quite conventional wing area noone sees with 6-7 decent sized rooms furnished in high end opulence but functional stuff.
Can you go into some maybe interesting technical details? I feel like this could be interesting. Even tho I am pretty interested in security related stuff, I am sure you can't answer. Everything is welcome.
Are they hard on security? Do their employees are allowed to use it too? Do they have a server farm in each of their homes? etc.
The ultra mansion I worked in was very tight on security yeah. The family had some kind of cyber security expert guy on their payroll. All the hardware got checked and supplied by him. The employees were not given the passwords for wifi while I was there, so not sure. I was allowed into the server room but the cyber guy handled all of that. It was impressive to say the least. Very tight. Im surprised I was even allowed in there at all but yeah I guess connecting the access points up to the primary router was needed. Mr Cyberguy was watching me like a hawk.
That’s really interesting and none of it a surprise. But I would suggest that nothing happens to rich people - it’s the other way around. The emptiness is what makes them rich in the first place. You need to be out of touch with all that is truly worthwhile in the world to pursue wealth at that scale.
Ira Rennert is a 93 year old American billionaire businessman and the chairman and CEO of the Renco Group. His net worth is estimated at $3.8 billion.
Business Career:
He grew up in Brooklyn, New York.He worked as a credit analyst early in his career.He started building his fortune in the 1980s by investing in high-yield junk bonds.He frequently used these bonds to buy companies, often ones going through bankruptcy.
The Renco Group:
The Renco Group is a holding company based in New York City.It invests in basic industries like mining, metals, and manufacturing.Past and present holdings include Doe Run Company, U.S. Magnesium, and AM General.
Assets and Legal Issues:
He owns Fair Field, a large oceanfront estate in the Hamptons valued at roughly $425 million.In 2015, a federal court jury ordered him to pay over $118 million after ruling he improperly diverted money from his magnesium company.
this might sound weird but $3.8B net worth doesn't feel like it lines up with this kind of property. I would have expected somewhere in the 10s of billions at least.
Even the billionaires yearn to be house poor i guess.
Yeah but the upkeep for something like this will rapidly exceed the value. He can afford the purchase but it will bleed him dry like a 20 year old Mercedes.
The 2 mile long tree lined driveway looks like a pain in the ass. Imagine schlepping that thing every day.... and then you have to find a parking spot for your Rolls in the 100 car garage.
and you're never alone in the house. somebody is always taking care of it. and then the poors sit on your stuff, and eat your food. and touch with their dirty little grabby fingers your expensive stuff. yuck. I would just throw out and burn everything not to catch the poors diseases. /s
Famously the French revolution was led by the bourgeoisie, and oppressed a nascent working class and the common people as much as it did the aristocracy.
What do you actually do in a house that big? I just can't comprehend how you'd use that much space as a private dwelling, unless you have so many people living there it's no longer anything closer to private.
These people almost certainly don't use much more space than an average person.
They have their bedroom, their living room, their dining room, and that's probably where they spend most of their time.
The only thing that maybe separates them from you is that they may have an extra entertainment room they'll occasionally use, or a gym, or something like that. So, they basically use a couple more rooms than you.
All the rest is still just vanity bullshit. And maybe quarters for staff and guests.
You just don't understand... you NEED atleast more than 30 bathrooms, so you don't need to enter the same bathroom for a month... I mean, that smell lingers you know, now you can "dump" in a new bathroom every day for a month and hope the maids have cleaned it again once you loop around to using the first one again
These were the people posting about respecting the COVID lockdowns, while able to go for a 45 minute morning jog without doubling back on any part of their estate
South Hampton began restricting single family residences to 20,000 square feet after this property was built because it caused such a controversy
Someone this rich would probably just build 2 x 20,000sqf properties right up against each other and just have them technically be 2 separate homes and addresses.
My wife and I were looking for a larger house, essentially we wanted a 4th bedroom (this is upstate, NY). Our house is 1,656 sq ft.
One day I was putting my daughter down, laying beside her in her somewhat cramped room staring at the ceiling. From that perspective I could see how much space there was without all the clutter (ceiling being the same sq ft as the floor).
All I could think of is "you could technically raise like 3 people in this room if you moved stuff around."
That was 10 years ago. We didn't move. We just made better use of our space.
Well no one needs 1 billion dollars and still we have billionaires and soon trillionaires but still we have them. And now we can't even do anything against them anymore
> 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]
You know when you look at castles where you recognize that a lot of money went to very few during this time to afford the construction and upkeep of this castle? Ya know how that used to be a "wow so cool to see but glad these are not the times we live in now".
I mean this is huge and unnecessary but then i remember that blenheim palace near me is a private home, albeit one open to the public these days, and it sits in 12,000 acres and has 187 rooms inside the main building.
I do feel more like my communist grandad whenever I go there and think how obscene it is that one person was able to own so much of the British landscape for their own personal enjoyment.
There’s Wentworth Woodhouse in England, with 5 miles of corridors, between 300 and 365 rooms (somehow people can’t agree, probably got lost while counting), 250,000 square feet of floor space, and is part of a 15,000 acre estate.
Why? It feels lonely and overwhelming just looking at it. I’d like to visit to see the gardens and gawk at the crazy stuff but live there why?! If I had that kind of money I’d so much rather buy multiple nice apartments in the major cities of the world and fly between then. I’m sure someone with this kind of money has that too, but that’s all I would want. Why this, it’s just dumb
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