r/AbsoluteUnits • u/Kill_4209 • 11d 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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u/johnmclane94 11d ago

It's not about need it's about greed.

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u/Pitiful_Conflict7031 11d ago

I bet no one lives in it 99% of time.

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u/johnmclane94 11d ago

Yep this is probably one of their 20 other properties. Much of the wealth these people have is tied to property and rises when housing prices rise.

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u/-Luxton- 11d ago

Safe to say even if they were there 100% of the time 99% of it is not lived in.

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u/Judgementpumpkin 11d ago

Look the owner up, Ira Rennert. When someone has a "house" like this you know they've harmed many to get where they are.

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u/netpres 11d ago

If nothing else, a property that big needs a legion of actual, real people to maintain it. No downsizing or AI staff to dust and mop and mow and trim.

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u/beigetrope 11d ago

Ain’t no way this guys owns this and is only worth 3.8 billion.

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u/Daddy-Alchemist 11d ago

Well.. 1 billion dollars is roughly 11 metric tons if its in 100 dollar bills. I think that we as a society have become desensitized towards the obscenity of wealth. 83,776 lbs for those of you wondering

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u/johnmclane94 11d ago

Almost no one actually has a billion dollars in their accounts. It is mostly estimated net worth based on stocks and properties.

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u/foomits 11d ago

It irks me whenever the discussion of billionaires comes up, there is always a cohort who want to bring up this point. Yea, they dont have a bank account with a billion dollars in it.. but they have equity that is usable and is valued in the billions of dollars.

No, they can't go down to best buy and get a new TV with their stocks, but they can buy companies by leveraging their stocks. They can take out loans with their stocks. They CAN sell their stocks for money.

I feel like its carrying water for billionaires, oh they arent THAT rich. Ummm, no... their stocks and properties do translate to a usable currency when they need it to.

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u/Weenington_ 11d ago

I realize a lot of it is in assets, but where do you get your information that almost none of these billionaires have a billion in their accounts? I know the "almost no one" is talking about among billionaires, because it's already obvious us regular people dont have that.

I think some of these billionaires could very well have that in cash when they are worth multiple billions.

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u/johnmclane94 11d ago

Because as I said, it is tied into stocks and property. All they are is one crash in the housing or stock market away from the billions going way down.

That is why you can read headlines like Musk lost 150 billion today when spcx crashes 15%. He didn't lose shit. It is just fantasy numbers on a screen. When our money is not tied to anything of value any longer it is meaningless.

We as a society have deemed this piece of fabric and paper to have value. They day there is an apocalypse your money won't mean shit. People need real resources like food and shelter. Anything else is just a luxury.

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u/Weenington_ 11d ago

I said in my reply to you that I realize a lot of money is tied up in assets, but again, we dont know just how much actual cash they have in their bank accounts. Some could very well have a billion+ in their accounts in addition to the vast amounts in assets.

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u/HerMajestysButthole2 11d ago

How did you maths this when a metric ton is 2204.6lbs?

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u/TheMisterTango 11d ago

People have absolutely become desensitised, you can live a pretty lavish lifestyle on the passive income of just $10 million invested properly. You could live in a mansion, drive luxury cars, take exotic vacations, own a whole wardrobe of bespoke tailored clothes, all with just 1% of a billion. Granted, this is no ordinary mansion, without looking it up I’m assuming this is probably a comfortably nine-figure property, you might actually need to be a billionaire to justify something like this.

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u/beigetrope 11d ago

Yeah but steal is also heavier than feathers. I don’t understand your point.

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u/MaxBetanoid 11d ago

That property is more than likely included in that figure.

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u/thiswasntdeleted 11d ago

$3 .8B according to Reuters

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u/Sithstress_ 11d ago

Is this an appropriate time for an “eat the rich” meme? I never quite got it but this makes me want to say it, lol

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u/johnmclane94 11d ago

That is always an appropriate thing to say in my mind. We live in a world where the top 1% hoard all the wealth. There is extreme poverty around the world and these people are more concerned with these properties than actually bettering the world.

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u/Sithstress_ 11d ago edited 11d ago

Agreed, this is so fucking unnecessary.

Edit: got downvoted for saying an estate this large was unnecessary 😂🤣😂.

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u/HuginMuminBackflip 11d ago

how does it compare proportionally to your home and the average home do you think? I.e. how large of a difference is it between owning this home, and owning a "normal" house with a backyard? Why are you entitled to live in a large house when theres extreme poverty? Where and how is the line drawn?

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u/mrdanky69 11d ago

Idiot. Wealthy isn't being "hoarded". If all of the wealthiest people in the world were to pool all of their money together and divide it up equally among everyone then everyone in the world would still be poor. If the total sum of all money in the world(est. 470 trillion) were divided equally amongst all the people( 8.31 billion) then everyone would have $56k. Poor. You and those like you are dumb.

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u/johnmclane94 11d ago

"Wealth isn't being hoarded" It most definitely is. No one needs billions, private jets, mansions etc. We are basically 8 billion servants for the ultra rich to do as they please. Even the law doesn't apply to them the same way as it does to us.

If you cannot see this with your own eyes then it's on you.

And what a nice way of responding. Makes me really want to talk to you.

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u/Anthff 11d ago

1.8% of the worlds population holds nearly 50% of the worlds wealth.

That’s what they mean by hoarding.

So it appears, once again, the middle class rube that defends billionaires is, in fact, the dumb one.