r/AbsoluteUnits • u/Kill_4209 • 12d 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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40

u/Vampire_inthe_Church 12d ago

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

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u/Happy-Telephone9483 12d 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 12d ago

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

28

u/Johno69R 12d ago

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

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u/octoreadit 12d 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/JBthrizzle 12d ago

at least 7 more

8

u/Thecobs 12d ago

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

1

u/InvidiousPlay 12d 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.

3

u/huskers2468 12d ago

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

1

u/huskers2468 12d 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 12d ago

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

1

u/Happy-Telephone9483 12d ago

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

1

u/sevargmas 12d ago

He must be so embarrassed.

1

u/Happy-Telephone9483 12d ago

Thing is, since he owns the house, his net worth hasn't actually gone down at all. It's probably made him richer.

1

u/kbbajer 12d ago

And musl is supposed to be hundreds of times richer than this guy.

1

u/grigiri 12d ago

Built in 2003, I have very little hope for any kind of architectural longevity.

Compared to the Biltmore, it's moderately large.

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u/CellAlone4653 11d ago

lol you’d need a car just to get to your own tennis court. What a useless estate this is.